Apple marks record India, global quarterly revenues, driven by iPhone sales
Subscribe to enjoy similar stories. New Delhi: Apple on Friday logged an estimated $3.75-4 billion in India revenue in July-September, its highest quarterly sales in the country and the 10th straight three-month period when the iPhone maker's quarterly revenue has been higher year-on-year in the world's fifth-largest economy. In July-September of 2023, Apple's India revenue was estimated at $2.5 billion.
The US-based company's record India revenue was driven by robust sales of both iPhones and iPad tablets. With sales of its Mac lineup of desktops and laptops also not lagging far behind, Apple is now tipped to lead India’s consumer gadgets market in terms of revenue share. “We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record.
We also opened two new stores during the quarter, and we can’t wait to bring four new stores to customers in India," chief executive Tim Cook said at Apple's headquarters at Cupertino, California, in a conference call with investors. The company declared its quarterly earnings Thursday afternoon US time, which is early Friday morning in India. This revenue, to be sure, is based on sale of Apple’s products and services in India—and does not take into account exports of its devices from India’s assembly lines.
Apple’s July-September revenue was also its all-time quarterly high. Luca Maestri, Apple’s chief financial officer, said that the company saw double-digit sales growth for iPads, which raked in $7 billion in revenue during the September quarter. Apple’s global quarterly revenue was $94.9 billion, of which $70 billion came from hardware sales.
Read more on livemint.com
