Apple Reports USD 94.9 Billion Revenue in July-September Period, CEO Tim Cook Says Company To Open 4 New Retail Stores in India
Apple reported 6% increase in the revenue this year with USD 94.9 billion during July-September 2024 period. Apple CEO Tim Cook said that company would open four new stores in India.
New Delhi, November 1: Apple, which clocked an all-time revenue record in India in the September quarter, is set to open four more own-branded retail stores in India, the tech giant’s CEO Tim Cook has said. Apple reported revenue of $94.9 billion in the July-September period, a September quarter record and up 6 per cent from a year ago.
iPhone grew in every geographic segment, marking a new September quarter revenue record for the category, and services set an all-time revenue record, up 12 per cent year over year. “We continue to be excited by the enthusiasm we're seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” said Cook during the quarterly earnings call (Q4 fiscal year 2024) late on Thursday. Apple CEO Tim Cook Wishes Everyone Joyous and Peaceful Diwali, Shares Image Shot on iPhone 16 Pro Max.
In addition to growth in developed markets, “we also saw strong performance in many emerging markets with double-digit growth in Mexico, Brazil, the Middle East, India, and South Asia”, he informed. Apple has two retail stories in India — in New Delhi (Saket) and Mumbai (BKC). “We can't wait to bring four new stores to customers in India. We're passionate about education and believe technology has a vital role to play in both helping teachers to inspire their students and students to learn about the world around them,” said Cook.
According to Luca Maestri, SVP, Chief Financial Officer, the company set “an all-time revenue record during the September quarter”. As India continues to break all previous records on local mobile manufacturing, tech giant Apple is on course to surpass the FY24 figures of exports from India, reaching over Rs 50,000 crore (more than $6 billion) in the first six months this fiscal (FY25), according to latest industry data. Apple CEO Tim Cook Announces Donation for Those Affected by Flash Floods in Spain’s Valencia Region.
The iPhone exports from India surged to cross $10 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the iPhone maker’s India operations reached $23.5 billion in value in the last fiscal (FY24). Apple assembled $14 billion of iPhones in India in last fiscal, exported more than $10 billion worth of devices.
(The above story first appeared on LatestLY on Nov 01, 2024 10:25 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).