Apple Sets New Revenue Records in India and Other Emerging Markets

Apple beats quarterly revenue record in India, Indonesia and these countries - Times of India

Apple CEO Tim Cook told investors during the company's earnings call that the company's June quarter revenue record is better than it had expected. He said that the company set quarterly revenue records in more than two dozen countries and regions, including India. "Apple is reporting a new June quarter revenue record of $85.8 billion, up 5% from a year ago, and better than we had expected... We also 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," Cook said in the earnings call after the Q3 results were announced. "And we set an all-time revenue record in services, which grew 14%," he added. Echoing Cook, Luca Maestri, senior vice president and chief financial officer at Apple, said that Mac's revenue growth is also due to "strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia." Cook said Apple "excited about Apple Intelligence" Talking about Apple Intelligence - an AI-powered system that includes generative AI models and tools, Cook said that the company remains optimistic about the possibilities of AI. "During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac," Cook said. "We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers' lives, while leading with the values that drive our work," he added. "With each innovation, we're unlocking new ways of working, new ways of learning, and new ways of tapping into the unlimited promise of human potential. We are doing that across every product and every service," Cook noted. The Apple CEO also explained that Apple Intelligence will be available on "pretty much all of the apps that you use every day", and "so there is been a deep level of thinking about how it affects those apps". The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.

India drives Apple's growth, Mac sales reach June quarter record - Times of India

Apple reported quarter revenue records in India and other emerging markets, contributing to an overall better-than-expected June quarter. The iPhone maker announced a 5% year-over-year increase in quarterly revenue, reaching $85.8 billion for its fiscal 2024 third quarter ended June 29. Apple CEO Tim Cook highlighted the company's success in new territories during the earnings call."We 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," Cook stated. Mac sales soar in India India emerged as a key growth driver, with Apple achieving a new June quarter revenue record in the country. The performance was particularly strong in the Mac segment, which saw a 2% year-over-year increase to $7 billion in global revenue. Apple CFO Luca Maestri emphasised the company's progress in emerging markets: "We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia." Maestri attributed this growth to the success of the MacBook Air powered by the M3 chip. Services hits high, iPhone sales at its modest The company's Services division also set an all-time revenue record, growing 14% to reach $24.21 billion. However, iPhone sales experienced a slight dip of 0.94% to $39.30 billion, which is typical for the third quarter as consumers anticipate the launch of new models. Despite challenges in the Wearables, Home, and Accessories category, which saw a 2.26% decline to $8.10 billion, Apple's overall performance in emerging markets like India signals strong growth potential in these regions. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.