Apple’s Q1 earnings in India break records; CEO Tim Cook announces significant achievement
Apple had a successful year in 2023, as it not only released new versions of its existing products like the iPhone 15 and Mac, but also introduced new ones such as the Vision Pro. The company finished the year on a positive note by surpassing Samsung and becoming the leading smartphone manufacturer globally. India emerged as a significant market for Apple, with the opening of two official flagship stores in Delhi and Mumbai. Additionally, Apple’s Q1 earnings call disclosed that it achieved a new record for the December quarter in India.
Results from Apple’s Q1 earnings call
During the first quarter earnings call, Apple CEO Tim Cook said the company broke records for the December quarter in India and a few other countries. Responding to analyst questions, Cook indicated several times that India’s revenue grew, reaching strong double digits in the December quarter. This also led to a new quarterly turnover record.
Speaking about Enterprise, Apple CFO Luca Maestri highlighted the Indian multinational technology company Zoho. Of the company’s 15,000 global workforce, 80 percent of users used an iPhone for work, while nearly two-thirds chose a Mac as their primary computer.
These findings come just days after Counterpoint Research claimed that Apple’s shipments crossed 10 million for the first time in India, helping it capture the top spot in revenue for the first time in a calendar year.
Cook announced the earnings: “Apple today reported revenue growth for the December quarter, driven by iPhone sales and an all-time high for services revenue. We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographies .And as customers begin to experience the incredible Apple Vision Pro tomorrow, we remain committed to pioneering innovation – in line with our values and on behalf of our customers.
Apple posted revenue of $119.6 billion in the quarter, compared to $117.2 billion in the same period last year.
