iPhone draws a huge appleause from Indians in Q3; to open four more flagship retail stores
Apple set yet another revenue record in India in the September quarter, thanks to the iPhone, amid an ongoing trend of premiumisation in the smartphone market, said chief executive Tim Cook.
“iPhone grew in every geographic segment, marking a new September-quarter revenue record for the category… And we continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record,” Cook said during the company’s earnings call Friday.
It’s not just iPhones that are growing rapidly in India. iPads also set a record in the quarter, contributing to an 8% surge in revenue for the segment globally.
Revenue for the segment globally. While the absolute revenue figure for Apple in India wasn’t available, Counterpoint Research has said it expects this to grow 18% in 2024 from $8 billion in 2023, mostly due to iPhones sales, and cross the $10 billion mark in 2025, driven by higher demand for the Pro models.
In the quarter, “Apple maintained positive growth momentum, supported by premiumisation trends and the aspirational appeal of the brand”, said Prabhu Ram, VP, industry research group, Cybermedia Research (CMR).
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