Apple registered double-digit revenue growth in India in June quarter: Tim Cook

After recording a stellar January-March quarter, Cupertino giant Apple has registered double-digit revenue growth in India in its quarter ending June 26, 2021. This comes at the time when, according to Canalys, the Indian smartphone market fell 13% sequentially in the said quarter amid the second wave of the COVID-19 pandemic. India was taken by surprise by the second wave of the COVID-19 pandemic resulting in many states imposing lockdowns for close to two months in April-May. While the offline stores were shut, e-commerce platforms continued to sell and deliver products.
 
“Today, Apple is reporting a very strong quarter with double digit revenue growth across our product and services categories and in every geographic segment. We set a new June quarter revenue record of $81.4 billion, up 36% from last year, and the vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India, Latin America and Vietnam,” Apple CEO Tim Cook said during the earnings call.
 
Apple recorded a strong quarter on the back of iPhone SE 2020, iPhone 11, iPhone 12 and older generation models including iPhone XR amongst others. “On the back of its recent market gains in 2020, Apple is positioned for aggressive growth in India in 2021 and beyond. The local assembly of the iPhone 12 in India will give a further fillip to Apple’s prospects. Apple is potentially positioned to turbo charge its market growth, if it chooses to pass some of the cost benefits onto the consumers,” Prabhu Ram, Head of Industry Intelligence Group at CMR had told BusinessToday.In earlier this year.
 
Tim Cook said Apple had an incredible quarter for the emerging markets in April-June quarter (Q3 for Apple) not just in India. The company set June quarter records in Mexico, Brazil, Chile, Turkey, UAE, Poland, Czech Republic, China amongst others. The results are for the entire line of products that Apple has, including the iPhone SE. “We launched it a year ago, but it's still in the line today and is sort of our entry price point. And so I’m pleased with how all of them are doing and I think we need sort of that range of price points to accommodate the types of people that we want to accommodate. And so we’ve got something for the entry buyer who really wants to get into an iPhone and then something for the pro buyer who wants the very best iPhone that they can buy," adds Cook.
 
Apple today announced financial results for its fiscal 2021 third quarter ended June 26, 2021. The company posted a June quarter record revenue of $81.4 billion, up 36 per cent year over year, and quarterly earnings per diluted share of $1.30.

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