New Delhi: Apple CEO Tim Cook has said that the company set a quarterly revenue record during the October-December period in India, a market that has seen Apple production and exports touching new highs with each quarter.
For the December quarter, Apple set all-time revenue records in the Americas, Europe, Japan, and rest of Asia Pacific, and grew in the vast majority of markets we track.
“We continued to gain momentum in emerging markets, which includes India, where we saw strong double-digit revenue growth,” said Cook during the earnings call late on Thursday (US time).
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“In retail, we continue to bring a magical experience to our customers all around the world, and we were thrilled to have our best-ever results in retail during the quarter. We were excited to open our fifth store in India in December and have plans to open another store in Mumbai soon,” said Cook.
Responding to an analyst, the Apple CEO said they did set a quarterly revenue record during the December quarter in India.
“To go a little further down, we set quarterly revenue records on iPhone and Mac and iPad, and an all-time revenue record on Services. So it was a terrific quarter in India. We really like what we see there. It’s the second-largest smartphone market in the world and the fourth largest PC market,” he explained.
Cook further stated that “we still have, despite very nice growth history, we have modest share there, and so we think there’s a huge opportunity for us there, and we could not be more excited about it,” he mentioned.
“The other thing that I would point out is that the majority of customers that are buying iPhone and Mac and iPad and Watch are all new to that product and so it speaks very well to opportunity there.that are buying iPhone and Mac and iPad and Watch are all new to that product and so it speaks very well to opportunity there,” Cook further said.
Kevan Parekh, Apple’s CFO, said iPhone revenue was $85.3 billion, up 23 per cent year-over-year, driven by the iPhone 17 family.
“iPhone saw strength around the world, reaching all-time revenue records in many of the markets we track, including the U.S., Greater China, Latin America, Western Europe, the Middle East, Australia, and South Asia, as well as a December quarter record in India,” he mentioned.
Mac revenue was $8.4 billion, down 7 percent year over year. As we described in the last call, we faced a very difficult compare against the M4 MacBook Pro, Mac Mini, and iMac launches in the year-ago quarter, he said.
“Despite this, we continued to see growth in several emerging markets, including Brazil, India, Malaysia, Vietnam, and more. And, as Tim mentioned earlier, the Mac installed base reached another all-time high, with nearly half of the customers who purchased a Mac being new to the product,” said Parekh.
