Has Apple Achieved Record Growth in India This Quarter?

Cupertino (California), Aug 1 (NationPress) Apple CEO Tim Cook has revealed that the iPhone manufacturer achieved record revenue during the June quarter in over two dozen countries and regions, with India being a significant contributor.

During an analyst call, Cook highlighted that these impressive results were fueled by double-digit growth in iPhone, Mac, and Services.

“We witnessed an acceleration in growth globally across the majority of markets we monitor. Every geographic segment reported iPhone growth, with double-digit increases in emerging markets, including India, the Middle East, South Asia, and Brazil,” stated the Apple CEO.

The Mac line also performed exceptionally, with a 15 percent year-over-year revenue increase. Additionally, “we achieved another all-time revenue record in Services, which grew 13 percent, showing double-digit growth in both developed and emerging markets,” Cook reported.

Recently, the company launched the Apple Store online in Saudi Arabia and expressed excitement about opening new stores in the UAE and India later this year.

According to Counterpoint Research Director Tarun Pathak, Apple is experiencing robust growth in India, recording another record-breaking revenue quarter with double-digit growth.

“During the quarter, the iPhone secured a 7 percent volume and 23 percent revenue share according to Counterpoint, with the iPhone 16 emerging as the top-shipped model in the region, significantly contributing to this momentum. A noteworthy aspect of this quarter was the substantial shift in manufacturing,” he noted.

Cook added that most iPhones sold in the U.S. now carry a 'Country of Origin' label from India.

As per Counterpoint Research, India's share of total U.S. iPhone shipments soared to 71 percent in Q2, up from a mere 31 percent in the same period last year.

“Looking forward, Apple has revealed plans to broaden its footprint in India with new retail stores slated to open later this year, marking a crucial step in its channel expansion strategy,” Pathak commented.

Regarding tariffs, Cook mentioned that the situation is continually evolving.

“For the June quarter, we faced approximately $800 million in tariff-related costs. For the September quarter, if current global tariff rates, policies, and applications remain unchanged, we estimate an additional impact of about $1.1 billion to our costs,” he stated.

This estimate should not be used for future projections due to numerous potential variables, including changes in tariff rates,” he concluded.