Apple CEO Tim Cook bullish on India's rising middle class after record March quarter
Synopsis
Apple's record March quarter wasn't just a US story — Tim Cook's most animated remarks were about India. With a modest share in the world's second-largest smartphone market and millions entering the middle class, Cook said he is 'over the moon excited' about India's potential across iPhone, Mac, iPad, and Watch categories.
Key Takeaways
Apple posted record March quarter revenue with double-digit growth across every geographic segment. iPhone revenue reached $57 billion , up 22% year-over-year, driven by the iPhone 17 family.
Mac revenue was $8.4 billion , up 6% year-over-year, with double-digit growth in India and Indonesia.
Apple opened its sixth store in India during the quarter.
Tim Cook described India as a "huge opportunity," noting it is the world's second-largest smartphone market and third-largest PC market .
Incoming Apple CEO John Ternus made his earnings debut during the call.
Apple posted record revenue for the January–March 2025 quarter, with Chief Executive Officer Tim Cook singling out India as one of the most compelling growth opportunities for the company globally. Speaking during an analysts' earnings call on 1 May, Cook described India as a market where Apple still holds a modest share despite years of strong performance — a gap he views as a major upside.
Cook's India Outlook
Responding to an analyst's question about the evolving Indian market and the opportunity presented by a rising middle class, Cook was unambiguous.
Point of View
A playbook Apple used successfully in China. The question is whether India's infrastructure, after-sales ecosystem, and consumer financing options can support the kind of installed-base expansion Cook is projecting — or whether the middle-class narrative outpaces the middle-class wallet.
NationPress
2 Aug 2026
Frequently Asked Questions
What did Tim Cook say about India in Apple's March quarter earnings call?
Tim Cook called India a 'huge opportunity,' noting it is the world's second-largest smartphone market and third-largest PC market where Apple still holds a modest share. He said he is 'over the moon excited' about India's growth potential across all product categories.
How did Apple perform in India during the March quarter?
Apple recorded double-digit growth in India across iPhone, Mac, and iPad categories during the January–March 2025 quarter. The company also opened its sixth retail store in India during the period.
What was Apple's iPhone revenue in the March quarter?
Apple's iPhone revenue reached $57 billion in the March quarter, up 22% year-over-year, driven by the iPhone 17 family. India was among the markets where iPhone grew double digits.
Who is the incoming Apple CEO mentioned in the earnings call?
John Ternus is the incoming Apple CEO who made his earnings debut during the March quarter analysts' call. Tim Cook currently serves as CEO.
Why does Tim Cook view India as a major growth opportunity?
Cook highlighted that despite Apple performing well in India for years, the company still holds a modest share in a market where millions of people are moving into the middle class. He noted that the majority of Apple product buyers in India across iPhone, Mac, iPad, and Watch are new to those products, pointing to significant installed-base expansion potential.
