Apple ‘nearly doubled’ revenue in India in June quarter: CEO Tim Cook

“We also saw June quarter revenue records in both developed and emerging markets with very strong double-digit growth in Brazil, Indonesia, and Vietnam and a near doubling of revenue in India. We saw great enthusiasm for our products and services, resulting in an all-time record for our installed base of active devices,” Cook said during the company’s quarterly earnings call.

He, though, did not share country-specific numbers.

CMR India said that Apple’s continued growth momentum in India is being driven by increased local manufacturing and retail initiatives.

“The iPhone 12 and iPhone 13 series, accounted for the most iPhones shipped and enabled a healthy YoY growth,” Prabhu Ram, head-industry intelligence group at market intelligence firm CyberMedia Research (CMR), told ET. “Premium Tablets continue to find favour with consumers for hybrid work, education and entertainment.”

The Cupertino-based company Thursday reported a June quarter revenue of $83.0 billion, up 2% year over year, while revenue from iPhone grew 3% year-over-year to $40.7 billion.

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For Mac, the company generated a revenue of $7.4 billion despite supply constraints and negative effects. “We continue to be excited about our long-term opportunity with Mac and redefining the PC experience with our relentless innovation,” said Cook. In contrast, iPad revenue was $7.2 billion, down 2% year-over-year due to supply constraints and negative foreign exchange.

Apple earned a Services revenue of $18.6 billion, up 12% year-on-year, despite “almost 500 basis points of FX headwinds as well as impacts from our business in Russia and the macroeconomic environment,” the chief executive said.

“The record level of performance of our services portfolio during the June quarter reflects the strength of our ecosystem on many fronts: First, our installed base has continued to grow, reaching an all-time high across each geographic segment and major product category. We also saw increased customer engagement with our Services during the quarter,” he added.

Apple’s paid subscriptions showed very strong growth. “We now have more than 860 million paid subscriptions across the services on our platform, which is up more than 160 million during the last 12 months alone,” Cook said.