NEW DELHI, Jan 31: Apple is increasingly focused on the Indian market, reporting significant business growth during the December quarter, with the iPhone becoming the best-selling smartphone model, a senior company official revealed on Friday.
During Apple’s earnings call, CEO Tim Cook emphasized the vast growth potential in India.
“Our results in emerging markets have been impressive, particularly in India. The December quarter reached record levels, and the iPhone was the top seller in India. It stands as the second-largest smartphone market globally and ranks third for PCs and tablets. Therefore, the market opportunities are substantial,” he stated.
He pointed out that Apple’s market share in these sectors is still modest, indicating there is considerable room for growth. “We see a lot of potential there…,” Cook added.
Furthermore, he mentioned the company’s plans to establish more Apple stores across India.
According to Counterpoint Research, Apple dominated the Indian smartphone market in 2024, holding a 23 percent share of the total smartphone supply value in the country.
In the December quarter, Apple secured an 11 percent share of the Indian smartphone market.
Cook noted that Apple is also expanding its Apple Intelligence initiative, with plans to introduce a localized English version in India by April.
Regarding the company’s financial performance in the December quarter, Cook reported an all-time record revenue of USD 124.3 billion, marking an increase of roughly 4 percent year-on-year (YoY).
However, the net income saw a decline of about 7 percent to USD 36.33 billion, down from USD 39.16 billion from the previous year’s October-December period.
Product sales rose by 1.5 percent to USD 97.96 billion, up from USD 96.45 billion, while service revenue climbed approximately 14 percent, achieving a record high quarterly revenue of USD 26.34 billion, compared to USD 23.11 billion YoY.
While overall iPhone sales slightly dipped to USD 69.13 billion compared to USD 69.7 billion last year, Mac sales surged by 15.5 percent to USD 8.98 billion from USD 7.78 billion, and iPad sales increased by about 15 percent to USD 8 billion from USD 7 billion YoY.
Sales grew across all regions except in China, where most of Apple’s products are produced, witnessing an 11 percent drop to USD 18.5 billion in the December quarter, down from USD 20.8 billion the previous year. (Agencies)
