New Delhi: During the January-March period, Apple reported record revenue of $94.8 billion, which was better than expected. According to Tim Cook, Apple’s CEO, the company grew very strongly in double digits year-over-year in India and set a quarterly record. Cook visited India last month to open the first branded retail stores in Mumbai and New Delhi, indicating that India is a major focus for Apple.
Cook said that the business in India was incredibly exciting, and Apple has been expanding its operations in India to serve more customers. Apple launched the Apple Store online three years ago, and just a few weeks ago, it opened two stores in Mumbai and Delhi. In addition, Apple has several channel partners in India, and Cook couldn’t be more delighted and excited about the enthusiasm he sees for the brand there. He believes India is at a tipping point, with many people coming into the middle class, making it a great market for Apple to invest in.
Apple achieved all-time records in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey, and the UAE, as well as several March quarter records, including in Brazil, Malaysia, and India. This achievement is a testament to Apple’s successful efforts to expand its presence in emerging markets, where there is significant growth potential.
The strong growth in India can be attributed to various factors. First, India’s economy has been rapidly growing, and the middle class is expanding. Second, the Indian government has made efforts to promote local manufacturing, which has led to Apple assembling some of its devices locally, making them more affordable to consumers. Lastly, Apple has been investing in marketing and advertising in India, building brand awareness and creating a strong demand for its products.
Overall, Apple’s success in India is a significant milestone for the company, and it is expected to continue to expand its operations and make further investments in the country. With the increasing popularity of Apple products in India, it is likely that the company will continue to achieve new records and growth in the region in the years to come.