- Monday, March 03, 2025
During the company’s earnings call, Apple CEO Tim Cook said India offers a huge growth opportunity and the company plans to open more Apple stores
By: India Weekly
APPLE is very keen on India where it has seen record business during the December quarter with iPhone emerging as the top-selling smartphone model in terms of value, a top company official said on Friday.
During the company’s earnings call, Apple CEO Tim Cook said India offers a huge growth opportunity for the company.
“We have had great results in the emerging market. I am particularly keen on India. India has set a December quarter record. iPhone was top selling in India for the quarter. It is the second-largest smartphone market in the world and third largest for PCs and tablets. So there is a huge market,” he said.
“We have a very modest share in these markets. I think there are lot of upsides there…,” Cook said.
He said the company has announced plans to open more Apple stores in India.
According to Counterpoint Research, Apple led the market in terms of value for the second successive year and ranked among the top five in terms of volume for the first time in October-December 2024.
In the December quarter, Apple had 11 per cent share in the Indian smartphone market.
Cook said Apple is expanding Apple Intelligence and will launch a localised English version in India in April.
On financial performance during the December quarter, Cook said Apple has registered an all-time record revenue of $124.3 billion, up about 4 per cent on a year-on-year (YoY) basis.
The company, however, posted a decline of about 7 per cent in net income to $36.33 billion during the October-December period from $33.91 billion a year earlier.
The product sales of the company grew 1.5 per cent to $97.96 billion from $96.45 billion and services sales grew about 14 per cent to touch record high quarterly revenue of $26.34 billion from $23.11 billion on a year-on-year basis.
The iPhone sales during the quarter declined marginally to $69.13 billion from $69.7 billion a year ago.
Sales of Apple’s Mac PC increased 15.5 per cent to $8.98 billion from $7.78 billion and iPad sales grew about 15 per cent to $8 billion from $7 billion on a year-on-year basis.
The company’s sales grew across all geographies except in China where it manufactures the majority of Apple products.
Apple sales in China declined 11 per cent to $18.5 billion during the December quarter from $20.8 billion a year earlier. (PTI)
