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Time of India
6 hours ago
- Business
- Time of India
Apple sees record India revenues in Q3, led by iPhone, Mac, services business: CEO Tim Cook
Kolkata: 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.
Hindustan Times
7 hours ago
- Business
- Hindustan Times
Apple CEO highlights tariff costs as company breaks revenue records globally
iPhone-maker Apple clinched revenue records in over two dozen markets, including India, in June quarter earnings that topped street expectations, but CEO Tim Cook called out the "evolving" tariff situation and estimated September-quarter tariff costs at about USD 1.1 billion. In June, the tech titan reported revenue of USD 94.04 billion, the 10 per cent year-on-year growth topping Wall Street expectations.(AFP File) During the Q3 FY2025 earnings, Cook spoke of opening new stores in India and the UAE later this year. He said the company saw iPhone growth in every geographic segment and double-digit growth in emerging markets, including India, the Middle East, South Asia, and Brazil. "We saw an acceleration of growth around the world in the vast majority of markets we track, including greater China and many emerging markets, and we had June quarter revenue records in more than two dozen countries and regions, including the US, Canada, Latin America, Western Europe, the Middle East, India, and South Asia," Cook said, adding these results were driven by double-digit growth across iPhone, Mac, and services. The situation around tariffs is "evolving", he said, adding that for the June quarter, the company incurred about USD 800 million of tariff-related costs. "For the September quarter, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, we estimate the impact to add about USD 1.1 billion to our costs. This estimate should not be used to make projections for future quarters, as there are many factors that could change, including tariff rates," he said. He mentioned the recently-launched Apple Store online in Saudi Arabia, and said, "We couldn't be more excited to open new stores in the UAE and India later this year". For the June quarter, the tech titan reported revenue of USD 94.04 billion, the 10 per cent year-on-year growth topping Wall Street expectations, while net profit came in at USD 23.42 billion, up 9.2 per cent from a year ago. Meanwhile, the US has announced a 25 per cent tariff on India as the White House released a list of duties that Washington will levy on exports from nations across the globe. In an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', President Donald Trump announced tariff rates for nearly 70 nations around the world.
The Hindu
9 hours ago
- Business
- The Hindu
Apple hits record India revenue in June quarter, sees $1.1 billion September quarter tariff costs overall
iPhone-maker Apple clinched revenue records in over two dozen markets, including India, in June quarter earnings that topped street expectations, but CEO Tim Cook called out the "evolving" tariff situation and estimated September-quarter tariff costs at about $1.1 billion. During the Q3 FY2025 earnings, Mr. Cook spoke of opening new stores in India and the UAE later this year. He said the company saw iPhone growth in every geographic segment and double-digit growth in emerging markets, including India, the Middle East, South Asia, and Brazil. "We saw an acceleration of growth around the world in the vast majority of markets we track, including greater China and many emerging markets, and 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," Cook said, adding these results were driven by double-digit growth across iPhone, Mac, and services. The situation around tariffs is "evolving", he said, adding that for the June quarter, the company incurred about $800 million of tariff-related costs. "For the September quarter, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, we estimate the impact to add about $1.1 billion to our costs. This estimate should not be used to make projections for future quarters, as there are many factors that could change, including tariff rates," he said. He mentioned the recently-launched Apple Store online in Saudi Arabia, and said, "We couldn't be more excited to open new stores in the UAE and India later this year". For the June quarter, the tech titan reported revenue of $94.04 billion, the 10% year-on-year growth topping Wall Street expectations, while net profit came in at $23.42 billion, up 9.2% from a year ago. Meanwhile, the U.S. has announced a 25% tariff on India as the White House released a list of duties that Washington will levy on exports from nations across the globe. In an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', President Donald Trump announced tariff rates for nearly 70 nations around the world.
Time of India
11 hours ago
- Business
- Time of India
Apple logs India revenue record, new stores lined up
Apple saw record revenue in India during the April-June quarter. This growth was driven by strong performance across iPhones, Macs, and services. New Apple retail stores are set to open in India soon. The company also experienced growth in various global markets. India's smartphone market value increased significantly. Apple anticipates tariff-related costs to rise in the coming quarter. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 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 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 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 Rs 45,000) price segment grew 37% year-on-year, the fastest among all price bands, driven by Apple and 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 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.
Economic Times
11 hours ago
- Business
- Economic Times
Apple logs India revenue record, new stores lined up
Apple logs India revenue record, new stores lined up 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 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 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 Rs 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 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.
