Apple – Exciting News for Indian Apple Fans: CEO Tim Cook Announces Plans for 4 New Apple Stores as iPhone Sales Soar
Apple is poised to expand its presence in India with the opening of four new stores, driven by a record-breaking quarter for iPhone sales. CEO Tim Cook emphasizes the increasing enthusiasm for Apple products in the Indian market.
Apple has announced plans to open four additional flagship stores in India over the coming months. The tech giant reported record-breaking revenue from the Indian market for the September 2024 quarter, driven by strong iPhone sales, according to CEO Tim Cook.
During Apple’s latest earnings call, Cook highlighted that iPhone sales increased across all regions, setting new global records. However, India distinguished itself with Apple achieving an all-time high in revenue. “We continue to be excited by the enthusiasm we’re seeing in India,” Cook stated, revealing the company’s commitment to expanding its footprint in the country following the successful launch of two stores at prime locations.
Apple iPads Achieve Record Sales
In addition to iPhones, Apple experienced remarkable sales growth for iPads in India, reaching an all-time high during the quarter. CFO Luca Maestri noted that more than half of the customers purchasing iPads were new to the product. He also pointed out that there was double-digit growth in other emerging markets, such as Mexico and the Middle East.
Apple Secures Second Place in India’s Smartphone Market
According to Counterpoint Research, Apple now commands a 22 percent share of India’s smartphone market by value, ranking second only to Samsung. The recent launches of the iPhone 15 and iPhone 16 ahead of the festive season further strengthened Apple’s market position. Samsung leads slightly with a 23 percent value share, thanks to its flagship Galaxy S series and a diverse portfolio that includes the A-series, M-series, and F-series.
Overall, Apple reported $94.9 billion in revenue for the September quarter, reflecting a 6 percent increase from the previous year. iPhone revenue grew by 6 percent globally. Looking ahead, Apple anticipates single-digit growth, bolstered by the gradual rollout of new AI features across its product lineup.
The Indian smartphone market is increasingly shifting towards higher-priced models, driven by a trend toward premiumization. This movement is supported by aggressive EMI offers and trade-in programs, which make premium devices more accessible to consumers.
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