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Business News/ Technology / Apple CEO says India is an exciting market; confirms a retail store in country
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Apple CEO says India is an exciting market; confirms a retail store in country

During the earnings call, Tim Cook said, “Looking at the business in India, we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed.” Although the overall quarterly revenue dropped for the American company, it performed well in India.

According to Apple CEO, the company will soon open a retail store in India.Premium
According to Apple CEO, the company will soon open a retail store in India.

Apple CEO Tim Cook has announced Apple's financial results for the fiscal 2023 first quarter which ended on December 31, 2022. Cook mentioned during the earnings call that the Cupertino-based company’s quarterly revenue dropped five per cent over the year. Apple posted quarterly revenue of $117.2 billion. Hence, Cook said that he is very bullish on India.

During the earnings call, Tim Cook said, “Looking at the business in India, we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed." Although the overall quarterly revenue dropped for the American company, it performed well in India.

Cook also stressed that iPhone sales are good in India and said that the Apple Online store played a crucial role. He also highlighted that both the Mac and iPad lineup of products are also doing good in India.

According to Apple CEO, the company will soon open a retail store in India hoping that it will strengthen business in the country. “We are investing there (India) by bringing retail there, bringing the online store there and putting out a significant amount of energy there. I am very bullish on India," added Cook. He also believes that India is a hugely exciting market.

Meanwhile, the American tech giant is said to be in the works of releasing a foldable iPad in the near future. This piece of news was reported by The Verge, a popular American technology news website, which cites a tweet from supply chain analyst Ming-Chi Kuo. Kuo has expressed his positive outlook on the foldable iPad and believes that its release will greatly improve the product mix and boost Apple's overall shipments.

Kuo's tweet has sparked a lot of excitement among tech enthusiasts and Apple fans alike. The foldable iPad has been the subject of many rumors and speculations in recent years, and the tweet from Kuo seems to lend some credence to these rumors. If the foldable iPad does indeed make its way to the market as early as next year, it will be a major milestone for Apple and could greatly disrupt the tablet market.

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Published: 03 Feb 2023, 09:58 AM IST
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