CEO Tim Cook satisfied with Apple's 'strong double-digit growth' in India as company reports record revenues
Hindustan Times reported. Also Read | Apple share price jumps 6% as Q2 earnings, forecast beat estimates; unveils record $110 billion share buyback Speaking about the Apple's iPhone manufacturing in India, Hindustan Times reported that Tim Cook emphasised the strategic importance of local production for maintaining competitiveness.
He said, “From a pragmatic point of view, you need to produce there to be competitive, and so, yes, the two things are linked from that point of view, but we have both operational things going on and we have go to market and initiatives going on." Also Read | Apple is Buffett’s best investment. It’s also now one of his riskiest.
According to Hindustan Times, Tim Cook expressed satisfaction with Apple's strong double-digit growth, leading to a new revenue record for the March quarter. He reiterated his excitement about the Indian market, emphasizing its significance as a major focus area for the company.
Also Read | AIA New Business Value Soars 27%, Adds $2 Billion to Buyback Luca Maestri, Apple's Chief Financial Officer, said that alongside India, Apple saw significant revenue growth in other emerging markets during the first half of the year. He remarked, “We were particularly pleased with our strong momentum in emerging markets, as we set first-half revenue records in several countries and regions including Latin America, the Middle East, India, Indonesia, the Philippines, and Turkey." Maestri further highlighted the promising growth opportunities in these regions, saying, “We are happy because these are markets where our market share is low, the populations are large and growing, and our products are really making a lot of progress in those markets.
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