Apple Sees “Strong Double-Digit” Growth and Revenue Record in India for Q2, Says Tim Cook
During Apple’s quarterly earnings call, CEO Tim Cook emphasized India as an exciting market with significant growth potential for the tech giant. Cook highlighted India as a key focus area for Apple’s expansion efforts, noting the company’s substantial investments in the country in recent years. He disclosed that Apple achieved a quarterly revenue record in India in March, showcasing strong double-digit growth figures, indicating the market’s importance for Apple’s growth strategy.
Cook’s remarks came during a shareholder’s call discussing Apple’s performance in the second fiscal quarter. Despite a reported 4 percent year-on-year dip in overall revenue, Apple has maintained strong numbers in India and other regional markets. Cook expressed satisfaction with the company’s performance, stating, “We were very, very pleased about it.”
Regarding India, Cook reiterated, “As you know, as I’ve said before, I see it [India] as an incredibly exciting market and it’s a major focus for us. In terms of the operational side or supply chain side, we are producing there, from a pragmatic point of view, you need to produce there to be competitive.” This indicates Apple’s commitment to the Indian market and its intention to enhance its operations and presence in the region.
Apple CEO Tim Cook made several call-outs to India during the company’s quarterly earning calls, specifically highlighting the country as an exciting market and an opportunity for it to expand further. The Cupertino-based tech giant has been heavily investing in India in recent years. Cook also revealed that the company made a quarterly revenue record in the country in March, posting strong double-digit growth numbers. Separately, he also hinted at Apple’s expansion plans to further solidify its position in the Indian market.
Tim Cook’s comments came in a shareholder’s call to discuss the company’s performance in the second fiscal quarter of the financial year (in the US, the fiscal year begins on October 1 and ends on September 30). While the overall revenue of Apple has reportedly taken a dip of 4 percent YoY, it has continued to post strong numbers in India and several other regional markets. Speaking about the development, Cook said, “We were very, very pleased about it”.
“As you know, as I’ve said before, I see it [India] as an incredibly exciting market and it’s a major focus for us. In terms of the operational side or supply chain side, we are producing there, from a pragmatic point of view, you need to produce there to be competitive,” he added.
India was also mentioned by the CEO during his announcement about Apple’s sustainability approach. He said the company was working with its partners in the country to replenish 100 percent of the water used in the production process, saving billions of gallons of water over the next two decades.