Apple Q4 result shows record revenue in India

Tim Cook, Apple Chief Executive said in the company’s September quarter earnings call that the company has registered its highest ever quarterly revenue in India. Talking off the back of record quarterly revenue of $90.1 billion that beat analyst estimates, Cook said that India registered “very strong double-digit growth” in overall revenues, making this the latest quarter where Apple has registered strong growth in the country.

Apple has consistently reported strong performance in the September quarter, over the year. In its Q4 FY20 earnings report (Apple records its financial year from October to September), Apple set its then quarterly revenue record off the back of strong iPhone demand and the opening of the company’s official online store in the country.

In this year’s June quarter too, Apple said in its earnings call with investors that the company created a new revenue record for India, where its overall revenue nearly doubled.

The growth pace comes off the back of an increasing number of discount deals, faster launch cycles in line with global markets, and easier financing options for more expensive smartphones such as the Apple iPhone.

Apple is also expected to look at India with more keenness as a manufacturing destination. On September 26, shortly after unveiling its new generation iPhone 14 series, Apple announced that its contract manufacturers have started making its latest devices in India — making this the first time that Apple is using the India facilities of its affiliates to make a latest generation device.