Apple reports record quarterly revenue in India despite smartphone shipment dip
Apple on Friday reported yet another quarterly revenue record in India for the third quarter ending June 29, 2024, continuing the high pace of growth in the world’s second largest smartphone market where consumers are continuing to buy premium products.
Apple chief executive officer Tim Cook told analysts in its third quarter earnings call that Apple has set “quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand.”
The bullish performance by the iPhone maker is when smartphone shipments in India fell 2% year-on-year in the June quarter as per market tracker Counterpoint Research which attributed the decline to the heatwave, seasonal slump, and a sequential slowdown in demand from the March quarter before.
Apple on Friday announced a new June quarter revenue record globally at $85.8 billion, up 5% from a year back, and also an all-time revenue record in services which grew 14%.
And it is not just the iPhone which is driving the Apple business in India. The company management informed about robust sales of Mac computers in the country on back of its back-to-school consumer promotion.
Apple’s chief financial officer Luca Maestri told analysts the company “saw particularly strong performance in emerging markets, with June quarter records for Mac in Latin America, India, and South Asia.”
As per Counterpoint, Samsung and Vivo led the Indian smartphone market in value or sales revenue market share in
