BackTim Cook ‘excited’ about India, confirms plans to open four more Apple stores
In its latest quarterly results, Apple reported $94.9 billion in sales, exceeding estimates. CEO Tim Cook highlighted India's importance, stating the company achieved a record revenue in the country and plans to open four new stores.
PremiumApple CEO Tim Cook announced the tech giant's quarterly results on Thursday, narrowly beating estimates with $94.9 billion in sales for the quarter ending September 28—a 6.1% increase from the previous year. While China remains a challenging market, Cook highlighted India’s growing importance for Apple. He shared that Apple achieved an all-time revenue record in India during the September quarter and confirmed plans to launch four new Apple Stores in the country.
During an investor call on Thursday, Cook said, “We continue to be excited by the enthusiasm we are seeing in India, where we set an all-time revenue record in September quarter,"
Apple’s flagship iPhone 16 series, launched globally on September 9 and also went on sale that same month. With festivities beginning in September, there is often an uptick in sales of smartphones and other tech devices. Cook noted that Apple saw increased sales for iPads as well, with the tablets showing double-digit growth.
4 new Apple stores in India:
Apple currently operates two retail stores in India: one in Mumbai’s BKC and another in Delhi’s Saket. However, the company has shared plans to open four new stores across the country—in Pune, Delhi-NCR, Bengaluru, and Mumbai—a move that was further confirmed by Tim Cook.
These new stores are part of Apple’s broader push in India as the company seeks to balance its reliance on the Chinese market. Last year, Apple began manufacturing the iPhone 15 series in India, and this year, it announced that the iPhone 16 Pro and iPhone 16 Pro Max are also being manufactured domestically, with plans to export them to select countries worldwide.
A recent Bloomberg report stated that Apple exported nearly $6 billion worth of India-made iPhones, a 33% increase in value compared to the previous year. Following this trajectory, exports of India-made phones are projected to exceed $10 billion in 2024.
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