We’re particularly keen on India: Tim Cook
Tim Cook has again underlined Apple’s intent to widen the physical retail presence as well, with more Apple Stores set to open in more locations in India.
Tim Cook, Apple’s Chief Executive Officer underlined India’s importance to the company in an earnings call early on Friday (IST) and said that the iPhone was the top selling model in the country in the company’s first quarter (October-December 2024) of financial year 2024-25.
“It’s the second largest smartphone market in the world and the third largest for PCs and tablets, and so there’s a huge market, and we have very modest share in these markets, and so I think there’s lots of upside there, and that’s just one of the emerging markets,” he said about India.
An analyst poll by Mint (the business publication of HT Media Ltd, which also publishes Hindustan Times) said Apple is likely to have sold at least $10 billion worth of iPhones in India in 2024 alone; the company does not break down sales numbers by geographies.
In the first quarter of fiscal year 2025, Apple posted revenue of $124.3 billion, up 4 % over the same quarter last year, despite a marginal dip in net iPhone sales in this period (when compared with the same quarter an year earlier).
“We were thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal,” said Cook.
Earlier this month, Apple released the Apple Store app in India, giving it a wider online retail footprint in the country alongside the Apple India online store. All of Apple’s products and services are listed on the app. Contextual suggestions for a shopping experience will be key, with the company insisting customers using the Apple Store app will be able to take advantage of personalised recommendations, product customisation and offers including bank discounts, cash backs, and no-cost EMIs, as they browse or shop.
Cook has again underlined Apple’s intent to widen the physical retail presence as well, with more Apple Stores set to open in more locations in India. “We’ve announced that we’re going to open four new stores,” he noted. Though Apple has not officially communicated location pins on the map just yet, Delhi and Mumbai could see a new store each, with Bengaluru and Pune in the mix as well.
During the earnings call, Kevan Parekh, Senior Vice President and Chief Financial Officer for Apple, mentioned India’s tech start-up Zomato among the list of companies worldwide that are deploying Apple’s Mac portfolio as standard computing devices for their workforce. “Zomato, a leading food ordering and delivery company in India, has deployed thousands of Macs across their workforce to foster innovation,” Parekh said.