New Delhi: Apple Inc. has reported record-breaking revenue in its latest quarterly results, driven by robust global iPhone sales, with a significant contribution from the Indian market.
CEO Tim Cook highlighted the company’s success during an earnings call, noting that iPhone sales in India reached an all-time high.
“We continue to be excited by the enthusiasm we are seeing in India, where we set an all-time revenue record in the September quarter,” Cook stated. He also mentioned that iPad sales in India saw strong performance, achieving double-digit growth.
In response to this growing demand, Apple plans to expand its retail presence in India by opening four new stores in major cities, including Bengaluru, Pune, Mumbai, and Delhi-NCR. Currently, Apple operates two stores in the country: Apple BKC in Mumbai and Apple Saket in New Delhi.
Globally, Apple’s revenue exceeded Wall Street estimates, with total sales up 6.1% to $94.9 billion, compared to analysts’ estimates of $94.4 billion. Earnings were 97 cents per share, though Apple noted that they would have been $1.64 without a one-time charge related to a European court ruling.
Apple’s expansion in India aligns with its broader strategy to tap into emerging markets and diversify its revenue streams. The new stores are expected to enhance customer experience and accessibility to Apple’s products and services.
