Apple Will be Very Happy with the Indian Market

ByTanay Singh Thakur TelecomTalk

Published on Oct 28, 2022 3:44pm IST

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Apple

Apple has seen record revenues in India in Q4. Tim Cook, the chief executive officer of Apple Inc, said that they had seen double-digit growth in India on the back of a strong September quarter in global markets. During the company’s fourth quarterly earnings call, Tim Cook said that Apple continues to perform strongly in emerging markets with very strong double-digit growth in India, Latin America, and Southeast Asia. For the unaware, Apple follows the October to September fiscal year.

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According to an ET Telecom report, Apple has reported record revenue in India for the quarter. Despite a strong dollar and a difficult environment, Apple has been able to see massive growth in the Indian market.

Apple India Net Profit for FY22

Apple India’s net profit saw a decent gain with a massive rise in overall revenues. The company’s revenues from the Indian market grew by 45% in FY22, and the net profit jumped by 3%. The net profit for Apple in the Indian market was Rs 1,263 crore. Apple’s expenses jumped 48% YoY to Rs 31,693 crore during the same year.

iPhone shipments in India grew 8% YoY in the July-September period to 1.7 million units, as per a CMR (Cyber Media Research) report. The demand for premium smartphones is on the rise in India. The festive sales announced around the end of September also boosts the demand for iPhones in the country.

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