Apple Chief Government Officer Tim Prepare dinner mentioned the corporate achieved an all-time income report in India within the September quarter (Q3). He added that there’s a lot of headroom to develop within the nation the place “lots of people are shifting into the center class.” Through the firm’s quarterly earnings name late on Thursday, the place Apple mentioned it posted quarterly income of $89.5 billion, the iPhone maker grew in very sturdy double digits in India within the July-September quarter. Apple’s newest iPhone 15 arrived throughout the identical interval, on September 22.
“We achieved an all-time income report in India in addition to September quarter data in a number of international locations, together with Brazil, Canada, France, Indonesia, Mexico, the Philippines, Saudi Arabia, Turkey, the UAE, Vietnam and extra,” mentioned Prepare dinner. “In companies, we set an all-time income report with double-digit progress and forward of our expectations,” he added.
What led to Apple’s progress in India
In response to an analyst query on momentum in India, Prepare dinner mentioned that India is “an extremely thrilling marketplace for them and a serious focus” for the corporate.
“We’ve a low share in a big market and so it could appear that there’s plenty of headroom there. We see a unprecedented market — lots of people shifting into the center class,” the Apple CEO famous. “A number of positives, we put two retail shops there and they’re doing higher than we anticipated — it’s nonetheless early going however they’re off to a great begin and I couldn’t be happier with how issues are going in the meanwhile,” he added.
Apple’s income in India hit almost Rs 50,000 crore in FY23, with gross sales rising 48 p.c to Rs 49,321 crore and internet revenue rising 76 p.c to Rs 2,229 crore. The corporate recorded its highest-ever quarterly shipments in India, crossing 2.5 million items, within the third quarter (July-September interval) this yr.
Luca Maestri, Senior Vice President and Chief Monetary Officer at Apple, mentioned that the corporate reached a September quarter report on iPhone, pushed by energy in rising markets. “Our complete put in base of energetic gadgets reached an all-time excessive throughout all merchandise and all geographic segments. Because of our excessive ranges of buyer satisfaction and lots of new clients becoming a member of our ecosystem,” mentioned Maestri. “We’re increasing our direct presence with new Apple Retail Shops in India to on-line shops in Vietnam and Chile,” he added.
— Written with inputs from IANS
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