Apple CEO Tim Cook Highlights Strong Growth in Emerging Markets, Including India

Apple's CEO, Tim Cook, has underscored the significance of emerging markets, particularly India, to the tech giant. During the Q1 earnings calls, Cook revealed that in the December quarter, Apple's business in India experienced 'strong double-digit' growth, achieving a quarter revenue record.

Cook emphasized the consistent strength of emerging markets, stating, "Emerging markets have been a very key area of strength for us. You know, if you look at it, India grew in revenue terms, strong double-digit in the December quarter and hit a quarter revenue record. That theme has been pretty consistent across other quarters of the year as well. And so, emerging markets are very, very important…I feel we are doing a good job there."

Fueled by December quarter records in countries like India, Indonesia, Saudi Arabia, and Chile, Apple reported a quarterly revenue of $119.6 billion, marking a 2% year-over-year increase. Cook attributed this growth to robust iPhone sales and an all-time high in revenue services.

Cook further shared that Apple achieved revenue records across more than two dozen countries and regions, including Malaysia, Mexico, the Philippines, Poland, and Turkey. He also announced that the active devices in Apple's installed base have surpassed 2.2 billion, reaching an all-time high across all products and geographic segments.

Apple currently operates two exclusive retail outlets in India, the world's fifth-largest economy and most populous nation. Cook inaugurated the first store in Mumbai in April last year, followed by the second one in Delhi. The company's continued success in emerging markets reaffirms its commitment to global growth and accessibility.