Apple revenue from India witnessed a strong double-digit growth in December quarter: Tim Cook
NEW DELHI: Apple's revenue from India witnessed strong double-digit growth in the December 2023 quarter said Tim Cook, CEO of Apple, on Friday.
Cook, in a company’s earnings call, also mentioned that Apple did particularly well in several emerging markets, from Latin America to the Middle East. The iPhone maker sets December quarter records in India and Indonesia.
"India grew in revenue terms—strong double-digits in the December quarter—and hit a quarterly revenue record. The other emerging markets, like Indonesia, also hit a quarterly record," added Tim Cook.
In terms of revenue, iPhone revenue was $69.7 billion, up 6% year-over-year in the December quarter. The iPhone maker has been doing well in India, growing quarter by quarter.
According to Counterpoint Research, Apple shipped over 10 million iPhones in 2023, surpassing its rival Samsung.
The company accounted for 23% of smartphone revenue in 2023, while Samsung grabbed 21% of the market.
Apple contributes significantly to India’s electronic exports too. According to the India Cellular and Electronics Association (ICEA), India witnessed a 22.24% surge in electronics exports, led by smartphone shipments, mainly Apple's iPhone.
Mobile phone exports, accounting for 52% of total electronics exports, reached $10.5 billion between April and December 2023.
Notably, iPhones emerged as the primary driver of exports, contributing 35% of the total electronics exports and a staggering 70% to the country's overall mobile exports during this period.