Apple’s CEO Tim Cook said that the company posted USD 89.5 billion in quarterly revenue, with India standing out as a key contributor. During the July-September quarter, Apple experienced robust double-digit growth in India, coinciding with the launch of its new iPhone 15 series.
Tim Cook said that Apple had achieved an all-time revenue record in India, alongside similar records in numerous other countries, including Brazil, Canada, France, Indonesia, Mexico, the Philippines, Saudi Arabia, Turkey, the UAE and Vietnam.
One of the notable highlights in this success story is Apple’s impressive performance in the services sector. Tim Cook disclosed that they set an all-time revenue record with double-digit growth, surpassing their own expectations.
Apple’s CEO stressed on the company’s enthusiasm for India and highlighted it as an incredibly exciting market and a major focal point for the company.
Despite being a powerhouse in the global tech industry, Apple’s market share in India is still relatively low, underscoring the immense growth potential present in this vast and rapidly developing market. Cook sees India as a land of opportunities, driven by a growing number of people entering the middle class.
For the fiscal year 2023, Apple’s revenue in India reached nearly Rs 50,000 crore, marking a 48 per cent increase in sales, with net profits soaring by 76 per cent to Rs 2,229 crore. The company also marked its highest-ever quarterly shipments in India, with over 2.5 million units sold during the third quarter of this year.
