Apple sees record India revenues in Q3, led by iPhone, Mac, services business: CEO Tim Cook
Apple
chief executive
Tim Cook
on Friday said there was an acceleration of growth in the April-June quarter with the iPhone maker reporting revenue records for the period in India driven by double digit growth across its smartphone, Mac computer and services business.
Talking to analysts during the company's third quarter earnings call, Cook said the company is going to open its
new Apple retail stores
in India later this year. Industry executives said the new stores are expected to be unveiled next month ahead of the festive season and when Apple launches new iPhone models. The company is working on four new stores in Bengaluru, Mumbai, Pune and Noida.
'We recently launched the Apple Store online in Saudi Arabia, and we couldn't be more excited to open new stores in the UAE and India later this year,' said Cook.
Cook said there was an acceleration of growth around the world in the vast majority of markets, including greater China and many emerging markets. 'We had June quarter revenue records in more than two dozen countries and regions, including the U.S., Canada, Latin America, Western Europe, the Middle East, India, and South Asia,' he said.
Industry tracker Counterpoint Research in a report this week said India's smartphone market's wholesale value rose 18% year-on-year in the April-June quarter, reaching its highest-ever quarterly value. It said the iPhone 16 emerged as the most-shipped device in the period highlighting strong consumer demand. The ultra-premium (handsets priced over ₹45,000) price segment grew 37% year-on-year, the fastest among all price bands, driven by Apple and Samsung.
Cook said there was growth in iPhone sales in every geographic segment and double-digit growth in emerging markets such as India, Middle East, South Asia, and Brazil.
Apple has also incurred around $800-million of tariff related costs globally in the June quarter and has estimated that the impact will add about $1.1 billion to its costs in the September quarter if the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, Cook said.
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