We created a record in June quarter in India on the back of iPhone sales: Tim Cook
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cupertino (Best Hindu News): Apple CEO Tim Cook has said that Apple has created a record in the June quarter in India due to the tremendous sales of iPhone. During the company’s fiscal 2023 third-quarter results call late Thursday, Cook said “the performance of our new stores in India this spring exceeded our expectations”.
Apple opened its retail stores in Mumbai and Delhi in April this year, which received a lot of support.
To a question on India potential, Cook said, “You know we set a revenue record in India in the June quarter and we grew double digits. We also opened our first two retail stores during the quarter and of course it’s early stages, but they’re performing better than we expected.”
He added that the company continues to work on building channels and investing more in its direct-to-consumer offering in the country.
“If you look at it, it’s the second largest smartphone market in the world and we should do really well there and we’re very pleased with our growth there,” Cook said.
“We still have a very small share of this smartphone market, so I think this is a huge opportunity for us and we are putting all our energy into making this happen. ,
According to IDC, Apple registered a 61 percent growth in India in the April-June period with the highest average selling price (ASP) of $929.
India is now one of Apple’s top 5 markets globally.
The company has also broken the local manufacturing record. In May, iPhone exports reached a record Rs 10,000 crore mark, taking the total mobile shipments from the country to Rs 12,000 crore in that month.
India is all set to cross Rs 1 lakh 20 thousand crore in mobile phone exports in the current financial year driven by technology giant Apple.
According to the India Cellular and Electronics Association (ICEA), Apple’s market share will exceed 50 percent in FY2024.
Apple CFO Luca Maestri said the company has set an all-time revenue record for the iPhone in India.
Apple reported quarterly revenue of $81.8 billion.
Cook said, “We are pleased to report that we had an all-time revenue record across Services during the June quarter driven by more than 1 billion paid subscriptions, and we saw continued growth in iPhone sales in emerging markets. “
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