Apple Sets All-Time Sales Record in India, Retail Store Soon To Open: CEO Tim Cook
Apple has set another all-time revenue record for the India market, along with quarterly records in Brazil and India, its CEO Tim Cook has said.
New Delhi, February 3 : Apple has set another all-time revenue record for the India market, along with quarterly records in Brazil and India, its CEO Tim Cook has said. Apple May Launch New Watch Ultra With Larger 2.1-Inch Display in 2024.
In the analysts' call after posting its quarterly results, Cook said late on Thursday that looking at the business in India, "we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed".
"That's despite the headwinds that we talked about. India is a hugely exciting market for us and a major focus. We brought the online store there in 2020. We will soon bring Apple Retail there," Cook announced. Samsung Galaxy S23 Ultra, Galaxy S23 Plus and Galaxy S23 Flagship Smartphones Launched Globally; Here’s All That You Need To Know.
Apple is set to launch its own-branded first brick-and-mortar store in Mumbai anytime soon. On the opportunity in India post-pandemic, Cook said, "We actually did fairly well through Covid in India and I'm even more bullish now, hopefully on the other side of it".
"That's the reason why we are investing there by bringing retail there, bringing the online store there and putting out a significant amount of energy there. I'm very bullish on India," Cook added. "We are putting a lot of emphasis on the market. There's been a lot going from financing options and trade-ins to make products more affordable and give people more options to buy," said Apple CEO.
Luca Maestri, Apple's Chief Financial Officer, said that the growth is coming from every major product category and geographic segment, "with strong double digit increases in emerging markets such as Brazil, Mexico, India, Indonesia, Thailand and Vietnam." Apple sold 2 million iPhones in India in the holiday quarter (Q4) of 2022, registering 18 per cent growth (quarter-on-quarter) for its flagship device.
The India market share of iPhones reached 5.5 per cent for 2022, an 11 per cent growth (year-on-year). According to the latest CMR data, iPhone 14 series logged 59 per cent market share in Q4 2022, followed by iPhone 13 series at 32 per cent growth.
(The above story first appeared on LatestLY on Feb 03, 2023 11:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).