Apple CEO Tim Cook announced plans to open four new retail stores in India following record-breaking sales during the September quarter.
The tech giant reported a revenue of $94.9 billion for the July-September period, marking a 6 per cent increase over the previous year, and the best-ever revenue collection for the September quarter with a 12 per cent growth.
“We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” Cook stated during the Q4 earnings call on Thursday.
He also highlighted Apple’s strong performance across emerging markets, particularly noting double-digit growth in regions such as Mexico, Brazil, the Middle East, India, and South Asia.
Currently, Apple operates two retail stores in India, one in New Delhi (Saket) and another in Mumbai (BKC).
“We can’t wait to bring four new stores to customers in India. We’re passionate about education and believe technology has a vital role in helping teachers inspire their students and students learn about the world around them,” he added.
India's rapidly growing market now plays a critical role in Apple’s expansion strategy.
The tech giant aims to exceed last fiscal year's export figure of over Rs 50,000 crore (more than $6 billion) in the first six months of this fiscal year, according to industry data.
In 2023-24, iPhone exports from India reached over $10 billion, up from $6.27 billion in 2022-23.
Overall, Apple’s India operations reached a value of $23.5 billion in FY24. Apple assembled iPhones worth $14 billion in India in the previous fiscal, with over $10 billion in exports.
Follow us
