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iPhones Help Apple Register Strong Double-digit Revenue Growth In India In Sept Quarter
Chief financial officer Luca Maestri said that India set a new all-time revenue record in iPhone sales during the quarter
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Apple registered a strong double-digit revenue growth in emerging markets like India for the quarter that ended September 2022, Apple chief Tim Cook said during the company's earnings conference call on 27 October.
Chief financial officer Luca Maestri said that India set a new all-time revenue record in iPhone sales during the quarter but did not disclose any specific numbers.
Apple is currently among the leading players in the country's premium smartphone market (above Rs 30,000) in India and remained the top-selling brand in the country's ultra-premium segment (Rs 45,000), as per Counterpoint Research.
Similarly, a Cyber Media Research (CMR) report on Thursday highlighted that Apple's iPhone shipments in India during the September quarter increased 8 per cent year on year (YoY) and 44 per cent sequentially to 1.7 million units.
The research firm expects the strong iPhone sales to continue in the ongoing quarter.
CMR said that Apple is expected to secure its highest-yet market share in the country in 2022, improving on a record 4.4 per cent in 2021.
Overall, Apple's global iPhone business saw net sales grow by 10 per cent YoY to USD 42.6 billion for the September quarter.
Maestri said this was despite significant foreign exchange headwinds during the quarter.