“Tim Cook Expresses High Satisfaction with Apple’s Performance in India”
Apple’s CEO Tim Cook expressed optimism about the company’s performance in India during an earnings call, despite an overall revenue decline of 4% attributed to a 10% drop in iPhone sales compared to the previous year.
Apple’s CEO Tim Cook expressed optimism about the company’s performance in India during an earnings call, despite an overall revenue decline of 4% attributed to a 10% drop in iPhone sales compared to the previous year.
During the call, Cook highlighted Apple’s achievement of setting revenue records in India for the quarter ending March 2024. He stated, “We did grow strong by double-digit, and so we were very, very pleased with that. It was a new March quarter revenue record for us.”
This positive outlook comes as Apple continues to focus on emerging markets, including India, where the company is experiencing strong momentum. Luca Maestri, Apple’s chief financial officer, noted that Apple set first-half revenue records in several countries and regions, including India, Latin America, the Middle East, Indonesia, the Philippines, and Turkey.
Maestri emphasized the significance of these markets, citing their large and growing populations and Apple’s progress in capturing market share. He stated, “We are happy because these are markets where our market share is low, the populations are large and growing, and our products are really making a lot of progress in those markets.”
Regarding Apple’s operations in India, Cook highlighted the importance of local production for staying competitive. He mentioned that iPhone production in India is part of the company’s strategy to expand its operational footprint and improve competitiveness in the Indian market.
Cook’s comments reflect Apple’s ongoing efforts to strengthen its presence in India and tap into the country’s growing consumer base. Despite challenges in iPhone sales, Apple remains optimistic about its prospects in India and continues to invest in initiatives aimed at driving growth and market share.
Sources By Agencies
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