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Thursday, June 13, 2024

According to CEO Tim Cook, India Offers Apple A “Huge Opportunity,” with New Stores Surpassing Expectations

<p>The CEO of Apple, Tim Cook, claimed that the business sees India as a “huge opportunity” and that the newly established official shops in Mumbai and New Delhi are performing beyond expectations. Apple just released its third-quarter results for the fiscal year 2023.<img decoding=”async” class=”alignnone wp-image-111424″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-according-to-ceo-tim-cook-india-offers-apple-a-huge-opportunity-with-new-stores-surpassing-expectations-download-2023-08-04t182914.804.jpg” alt=”” width=”1121″ height=”628″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-according-to-ceo-tim-cook-india-offers-apple-a-huge-opportunity-with-new-stores-surpassing-expectations-download-2023-08-04t182914.804.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-according-to-ceo-tim-cook-india-offers-apple-a-huge-opportunity-with-new-stores-surpassing-expectations-download-2023-08-04t182914.804-150×84.jpg 150w” sizes=”(max-width: 1121px) 100vw, 1121px” /></p>
<p>The creator of the iPhone has announced fiscal third-quarter sales of $81.8 billion, down 1% from the same period last year, and fiscal third-quarter profits per diluted share of $1.26, up 5% from the same period last year.</p>
<p>India is the “second largest smartphone market in the world,” Tim Cook said on the earnings call. Therefore, we should be succeeding well there. Cook continued, saying that while Apple currently has “a very, very modest and low share” of the Indian smartphone market, he sees “a tremendous opportunity for us.” And we are working tirelessly to make it happen.</p>
<p>The Apple CFO, Luca Maestri, also shared some fascinating information about India. Apple “set an all-time revenue record for the iPhone in India,” according to Luca, who also claimed that the business “set June quarter records and revenue growth in double digits for the iPhone in India with a very strong performance.”</p>
<p>These changes come after Apple expanded its retail presence in India by opening two official locations, Apple BKC in Mumbai and Apple Saket in New Delhi. Despite just recently opened, Cook claims that both of the shops are now surpassing their goals. Cook also said that Apple would continue to “work on expanding the channel and investing more in our direct-to-consumer offerings.”</p>
<p>In May of this year, Tim Cook referred to India as a “incredibly exciting market.” Moreover, he said, “India is a key emphasis for us. I just visited, and I was astounded by the market’s liveliness and excitement.</p>
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