Apple Shatters Revenue Records in India: Exciting Expansion with 4 New Retail Stores Announced by CEO Tim Cook!

New Delhi: Apple has achieved record-breaking revenue in India for the September quarter and plans to expand its retail presence with four new stores, according to CEO Tim Cook. The tech giant reported $94.9 billion in revenue for the July-September period, marking a 6% increase from the previous year and setting a new September quarter record. The iPhone category also saw significant growth in all geographic segments, while Apple’s services reached an all-time revenue high with a 12% year-over-year increase.

Cook expressed enthusiasm over the strong performance in India, highlighting the country’s record-setting contribution to Apple’s overall growth. The company currently has two retail stores in India, located in New Delhi (Saket) and Mumbai (BKC), and is looking to expand to foster educational opportunities and technological engagement.

Apple’s success extended beyond India, with double-digit growth observed in emerging markets like Mexico, Brazil, the Middle East, and South Asia. In line with its robust expansion strategy, Apple’s iPhone exports from India soared past $10 billion in the 2023-24 fiscal year, up from $6.27 billion the previous year. The company’s operations in India hit a value of $23.5 billion for FY24.

Luca Maestri, Apple’s SVP and Chief Financial Officer, also confirmed that Apple set an all-time revenue record during the September quarter. With India’s record-setting mobile manufacturing and rising export figures, Apple is on track to exceed $6 billion in exports from India within the first six months of the current fiscal year (FY25).

Original Story https://www.sentinelassam.com/more-news/business/apple-sets-all-time-revenue-record-in-india-to-open-4-new-retail-stores-ceo-tim-cook
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Publish Date: 2024-11-02 18:56:00