New Delhi: Apple’s CEO Tim Cook revealed a remarkable achievement for the tech giant in India, marking a significant milestone with strong double-digit growth and a new revenue record for the March quarter. The company’s strategic emphasis on the Indian market has been underscored by this success, highlighting the potential Apple sees in this vibrant economy.
Cook expressed his satisfaction with the company’s performance, stating, “We are very happy with the strong double-digit growth in India. This is not just growth; it’s a new revenue record for us in the March quarter.” His enthusiasm reflects Apple’s commitment to India, which he describes as “an incredibly exciting market” that is now a primary focus of the company’s global strategy.
The Cupertino-based iPhone maker has seen record revenues across multiple regions, but the spotlight shone brightly on India, Latin America, and the Middle East, along with Canada, Spain, and Turkey, where they achieved record March quarter revenues. Cook emphasized the ongoing operational work and various initiatives in India, including market entry planning and the opening of new stores last year, which he believes hold immense potential for further expansion.
Despite a slight dip in overall revenue, with the second quarter of fiscal 2024 ending in March reporting US$90.8 billion, down four percent from the previous year, Apple’s focus remains steadfast on growth opportunities. The fiscal year for Apple runs from October 1 to September 28, and the company continues to adapt and innovate to maintain its competitive edge in the global market.
This announcement comes on the heels of Apple’s financial results, which, while showing a decrease in overall revenue, spotlight the company’s resilience and strategic agility, particularly in emerging markets like India. With a clear vision for the future and a robust plan for tapping into India’s vast potential, Apple is poised to continue its trajectory of growth and innovation.
