Apple’s dominance in the Indian market is a pipe dream for CEO Tim Cook. Not everyone can afford an Apple device, much less enter the coveted ecosystem. But the third quarter’s results for India have shown incredible results, and Cook can’t be more elated. In the 4th quarterly earnings call for 2023, the tech giant’s boss remarked that Apple had an all-time revenue record in India as the company grew double digits. While the country is a low-share market, Cook stated that it’s an extraordinary market with a lot of people moving into the middle class tier.
— Business Today (@business_today) November 3, 2023
Read: https://t.co/5B9mSPHemB pic.twitter.com/Zaly3aaDhQ
— BQ Prime (@bqprime) November 3, 2023
Tim Cook further spoke of the two retail stores (Mumbai and Delhi) that were launched in India this year. Cook said that retail stores are doing better than what was anticipated. He says that they are off to a good start, although it’s still early. Tim also mentioned that iPhone revenue globally was beyond expectations, and in India it recorded an all-time high.
During @Apple‘s Q4 2023 earnings conference call — CEO @tim_cook spotlighted India as a pivotal region for the tech titan, highlighting the substantial growth opportunities and numerous advantages within the country’s expansive market.https://t.co/uxgslFEr6a
— Inc42 (@Inc42) November 3, 2023
The Apple boss visited India in April for the star studded launch of the Apple retails. The first official retail store was unveiled in Mumbai at the Bandra Kurla Complex. The second retail store was opened in Saket, Delhi.
In India, Apple recorded its highest-ever shipments in the last quarter at 2.5 million units for the period of July-September 2023. Per Counterpoint Research, the shipment increased by a whopping 34 percent in India.
See Also: Madhuri Dixit Introduces Tim Cook To ‘Mumbai Cha Vada Pav’, Apple CEO Gives His Verdict
See Also: CEO Tim Cook Bats For More Women In Tech Industry; Seeks To Fix The Gender Gap At Apple