Apple chief Tim Cook (pictured) credited India as a key driver of growth in APAC excluding China and Japan in its fiscal Q2 2023 (which ran to 1 April), with the region one of only two where the company made revenue gains.
Cook emphasised the importance of India to Apple on its earnings call, branding the nation as being at a tipping point in terms of a growing middle-class.
Apple did not reveal numbers for India, but Cook asserted it set a “quarterly record” during fiscal Q2.
“India is an incredibly exciting market. It’s a major focus for us,” he said, pointing to an expansion in Apple’s operations in the country which included opening online stores in 2020.
Last month, it opened its first two official stores.
Revenue from Apple’s Rest of Asia segment grew 15.3 per cent year-on-year to $8.1 billion. The figure in China dropped 2.9 per cent to $17.8 billion, with Japan down 7.1 per cent to $7.2 billion.
Cook said growth in China accelerated after the nation ended Covid-19 (coronavirus) prevention measures in December 2022, citing Kantar data showing four of the top-five selling smartphones in urban areas were Apple models.Subscribe to our daily newsletter Back