Apple sees new doubling of revenues in India in Q2: Tim Cook

Apple has seen a new doubling of its revenues in India in the April-June period, setting a new all-time record in the country particularly riding on its iPhone 13 series, the companys CEO Tim Cook has announced.

Speaking to analysts after posting a record June quarter, Cook said that the quarter recorded record revenue in developed and emerging markets “with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India.”

Cook said that the company continues to execute across some significant geographies with “low penetration of iPhones between Indonesia, Vietnam and India where we did quite well”.

“iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products,” he added.

Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year).

According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by the stupendous sale of iPhone 12 and 13 models.

Nearly 1 million of the total shipped iPhones were ‘Make in India’ devices.

Speaking about Apple’s services business, the company’s CFO Luca Maestri mentioned that “we set June quarter revenue records in both developed and emerging markets and set all-time records in many countries including India.”

Maestri also highlighted how enterprise customers “are increasingly investing in Apple products as a strategy to attract and retain talent”.

“Wipro, another large mobile enterprise customer, is investing in MacBook Air with M1 as a competitive advantage when recruiting new graduates globally – thanks to its superior performance and lower total cost of ownership,” he informed.

With the new M2 chip powering MacBook Air and the 13-inch MacBook Pro, “we expect more customers to make Mac available to their entire workforce,” he added.

In India, Apple iPads logged an impressive 34 per cent growth (on-year) in India and the company sold over 0.2 million devices in the country, according to CMR.

Apple iPad (Gen 9) and iPad Air 2022 accounted for a lion’s share of the iPad shipments,” according to the CMR Q2 data.

Apple’s enhanced and diversified iPhone production capabilities in India, along with aggressive retail initiatives (although its first retail store in the country is delayed owing to the pandemic), continue to contribute to its strong growth momentum in India.

Earlier this year, the tech giant confirmed it has started manufacturing its top-selling iPhone 13 smartphone in India.

Apple first started manufacturing iPhones in India in 2017, with iPhone SE.

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