New Delhi, May 1 (IANS). Tim Cook, CEO of American tech giant Apple, has informed that the company created new records of revenue in the March quarter and recorded double-digit growth in almost every emerging market including India.
“We set revenue records in the March quarter and delivered double-digit growth in every geographic region, including strong double-digit growth in Greater China and Rest of Asia-Pacific,” he said.
“We also set March quarter revenue records in both developed and emerging markets and saw double-digit growth in almost all the emerging markets we track, including India,” Tim Cook said during a call with analysts after the strong January-March quarter results.
Cook further said that we were also very excited about opening our sixth store in India. He said that it has been great to see how our growth in India has continued in recent years; This is part of our larger efforts to connect with even more customers around the world and emerging markets.
Responding to a question on market growth in the context of the opportunities provided by the growing iPhone user base in India and the growing middle class, Cook said, “I think this is a huge opportunity for us.”
Cook said that we have been focusing on this for some time. It is the second largest smartphone market and third largest PC market in the world. Despite performing very well here for quite some time, our market share is still quite low. So I think this is a clear indication of what a huge opportunity there is for us here.
Cook further said that there are a lot of people joining the middle class, and we will have great products available for them now and in the future. If you look at most of our customers across all our categories, from iPhone to Mac, iPad and watches, they are using these products for the first time. This is a clear indication that the user base of our products is growing rapidly here. Overall, I am very excited about India.
Revenue from iPhone was $57 billion, which is 22 percent more than last year. The main credit for this growth goes to the iPhone-17 series.
Apple CFO Kevan Parekh said that most of the markets we keep an eye on include the US, Latin America, Greater China, Western Europe, India, Japan and Southeast Asia. All of them have recorded double-digit growth in iPhone sales.
Revenue from Mac was $8.4 billion, which is six percent more than last year. The main credit for this growth goes to recently launched powerful products like MacBook Neo. Parekh said that we have grown in both developed and emerging markets; Our growth was in double digits in many emerging markets including India and Indonesia.
During the quarter, more than half of the customers purchasing iPad were first-time buyers.
According to the company, “Many of these customers are from our emerging markets, where we have seen double-digit growth in iPad revenue; these include India, Mexico and Thailand. Additionally, customer satisfaction in the US was 98 percent, according to the latest report from 451 Research.”
The special thing is that Apple’s new CEO John Ternes also participated in this quarter’s earnings report for the first time.
–IANS
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