The company’s CEO, Tim Cook, announced the opening of 4 new stores in India while releasing quarterly results.
Apple will open four more flagship stores in India in the coming months. Currently, Apple has a store in Mumbai and Delhi. The company’s CEO, Tim Cook, announced this during the release of quarterly results. The company made this decision due to the increase in iPhone sales.
Tim Cook said: “iPhone sales increased in all regions, setting new records globally. Record revenues were also recorded in India.
Cook said Apple reported $94.9 billion in revenue globally in the September quarter, up 6% from last year. iPhone revenues alone grew 6%.
Apple currently has 2 stores in India Apple opened the “Apple BKC” store in Mumbai on April 18, 2023 and the “Apple Saket” store in Delhi on April 20. Apple CEO Tim Cook opened these two stores.
8% increase in iPad revenue Chief Financial Officer Luca Maestri said that apart from the iPhone, the company’s iPad has also set revenue records in India. Globally, it increased by 8% year-on-year.
Luca said: “In addition to growth in developed markets, we saw strong performance in several emerging markets with double-digit growth in Mexico, Brazil, the Middle East, India and South Asia.
Apple grew quickly in small towns Senior research analyst Prachir Singh said, “Apple has been growing rapidly in smaller cities. Consumers are increasingly investing in high-end smartphones. Apple remains the first choice for premium buyers due to its aspirational image.
Apple holds 22% share of the Indian smartphone market According to Counterpoint Research, Apple now holds 22% of the Indian smartphone market by value, just behind Samsung. The launch of the iPhone 16 before the holiday season strengthened Apple’s position.
iPhone exports worth $6 billion from India in six months Recently, in a Bloomberg report, it was stated that Apple had exported ‘Made in India’ iPhones worth $6 billion (around Rs 50,454 crore) from India in the six months between April and September.
This is a third (33%) more than the same period last year. By the end of the current financial year (2024-25), the export figure could touch $10 billion (around Rs 84,086 crore).