Apple records another record quarterly revenue in India
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khaskhabar.com : Friday, February 02, 2024 11:12 AM
Cupertino. Apple CEO Tim Cook has said the company recorded strong double-digit growth in the December quarter in India, hitting another quarterly revenue record in the country.
Apple announced financial results for the first quarter of its fiscal year 2024 ending December 30, where it reported quarterly revenue of $119.6 billion, up 2 percent year over year.
Cook reported December quarter records in India, Indonesia, Saudi Arabia and Chile.
Responding to an analyst’s question, Cook said several times that India posted strong double-digit growth in revenue in the December quarter and hit a quarterly revenue record.
India posted strong double-digit growth in revenue in the December quarter and hit a quarterly revenue record.
India’s smartphone shipments remained steady at 152 million units in 2023, but Apple crossed the 10 million units mark in shipments and took the top spot in revenue in a calendar year for the first time.
“For Apple, increased focus on LFR (large-format retail) through opening of its own retail stores and regular promotions contributed to the increase in offline shipments,” said Shubham Singh, Counterpoint Research analyst. Additionally, the high trade-in value presented an attractive proposition for consumers to transition to iOS.’
During the earnings call, Apple CFO Luca Maestri highlighted Zoho, a leading SaaS technology company headquartered in India, that provides device choice to its more than 15,000 global employees, with 80 percent of their workforce using iPhones for work. and nearly two-thirds of them choose a Mac as their primary computer.
Cook said Apple is reporting all-time revenue growth in the December quarter, led by iPhone sales and an all-time revenue record in Services.
“We are pleased to announce that our active device install base has now exceeded 2.2 billion, an all-time high across all product and geographic segments,” he said in a statement late Thursday. Is.”
During the quarter, Apple generated approximately $40 billion of operating cash flow, and returned approximately $27 billion to its shareholders.
“We are confident about our future and will continue to make significant investments in our business to support our long-term growth plans,” Maestri said.
–IANS
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