'Incredibly exciting market': Apple CEO Tim Cook says ‘very pleased’ about strong double-digit growth in India

By Team Asianet Newsable | First Published May 3, 2024, 10:49 AM IST

Apple CEO Tim Cook talked about the company's performance in India during the earnings call in which it was announced that the iPhone maker set revenue records in India in the quarter ended March 2024.

Apple CEO Tim Cook spoke about the company’s performance in India during the earnings call in which it was announced that the iPhone maker set revenue records in India in the quarter ended March 2024. This comes as Apple's overall revenue fell 4% due to a 10% drop in iPhone sales from the same time last year.

Tim Cook stated, "We did grow strong by double digits, which we were extremely delighted about. It set a new March quarter revenue record for us. As you know, and as I've stated previously, I regard it as a really interesting market, and it's a significant emphasis for us."

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Apple's chief financial officer, Luca Maestri, stated, "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."

"We are pleased since these are markets with low market share, vast and expanding populations, and our products are making significant headway in those markets. "The level of excitement for the brand is extremely high," Luca Maestri stated.

Apple CEO Tim Cook remains enthusiastic about the company's AI efforts. During an investor call following the latest quarterly reports, Cook stated that Apple is making "significant investments" in AI. "We continue to feel very bullish about our opportunity in generative AI," Cook told investors on the call.

He also stated that Apple saw "generative AI as a very key opportunity across our products." Apple's annual developer conference, WWDC, will take place on June 10, with the focus on the AI-powered breakthroughs that Apple will reveal.

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