Apple India Sales Approaches $6 Billion

Apple India Sales Approaches $6 Billion

Speaking at Apple’s Q2 2023 earnings call, CEO Tim Cook made reference to India 20 times reported Bloomberg News.

Highlighting that India was at a tipping point, and a major focus for Apple, the chief said that the dynamism and vibrancy in the India market was just ‘unbelievable’. During the call, Cook said, “…in a milestone for Apple, we just opened our first two Apple stores in India, in Mumbai and Delhi. I was there to see it for myself, and I couldn’t have been more delighted by the excitement and enthusiasm of the customers, developers, creators, and team members I got to spend time with.”

Before the launch of Apple’s retail store in Mumbai

Apple brought in record revenue in India in the first quarter of the year, Cook said, as he extolled the potential of what could become a key market for the tech giant. ((The company doesn’t break out India revenue in its earnings statements, but Bloomberg News reported Apple posted almost $6 billion of sales there in the year through March).

The record sales further signify India’s importance in Apple’s plans. The company sees India, the world’s most populous country, as both a major market as well as a production base as it looks beyond China. Cook also met Prime Minister Narendra Modi during his recent visit.

Foxconn Technology Group, a major manufacturer of Apple’s iPhone, is reported to be gearing up to invest nearly $ 700 million to build a new plant in India. The company is reported to be looking to produce iPhone parts on a 300-acre site located near Bangalore, in the southern state of Karnataka.


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