After seeing its revenue hit an all-time high in the July-September quarter, Apple CEO Tim Cook has announced the launch of four more branded retail stores in the country.
In the September quarter, Apple reported revenue of USD 94.9 billion, a 6 percent hike from a year ago. “We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” Cook said during the quarterly earnings call on Thursday, October 31. “We can’t wait to bring four new stores to customers in India. We’re passionate about education and believe technology has a vital role to play in both helping teachers to inspire their students and students to learn about the world around them.”
“During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season,” Cook said, as quoted by Apple.
ALSO READ: As iPhone 16 goes on sale in India, Apple stores in Delhi and Mumbai draw massive crowd
Luca Maestri, Apple’s CFO attributed the success to “high levels of customer satisfaction and loyalty”. “Our record business performance during the September quarter drove nearly $27 billion in operating cash flow, allowing us to return over $29 billion to our shareholders. We are very pleased that our active installed base of devices reached a new all-time high across all products and all geographic segments, thanks to our high levels of customer satisfaction and loyalty.” the Apple CFO said.
In addition to growth in developed markets, Apple registered double-digit growth in Mexico, Brazil, the Middle East, India, and South Asia.
Apple currently has two retail stories in India — in New Delhi (Saket) and Mumbai (BKC). Though not confirmed, the four new stores are likely to open in Bengaluru, Pune, Mumbai, and Delhi-NCR.
