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Emerging markets including India ‘very important’ for Apple: CEO Tim Cook
Powered by December quarter records in such countries, including India, Apple posted a quarterly revenue of $119.6 billion, up 2% year-over-year.
Apple CEO Tim Cook has stressed on the importance of emerging markets such as India to the company, revealing that in the December quarter, the tech giant’s business in the country grew ‘strong double-digits and hit a quarter revenue record.’
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“Emerging markets have been a very key area of strength for us. You know, if you look at it, India grew in revenue terms, strong double-digit in the December quarter and hit a quarter revenue record. That theme has been pretty consistent across other quarters of the year as well. And so, emerging markers are very, very important…I feel we are doing a good job there,” Cook said in the Q1 earnings calls.
Cook, who succeeded late co-founder Steve Jobs in August 2011 as the Cupertino-based firm’s leader, also stated that overall, the iPhone maker registered revenue records across more than two dozen countries and regions.
“We also saw all-time records in Malaysia, Mexico, the Philippines, Poland, and Turkey,” he announced.
Powered by December quarter records in these countries, and also in India, Indonesia, Saudi Arabia, and Chile, Apple posted a quarterly revenue of $119.6 billion, up 2% year-over-year, the CEO noted, attributing this to ‘iPhone sales, and an all-time record in revenue services.’
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“We are also pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments,” he added.
Currently, Apple has two exclusive retail outlets in India, the world’s fifth-largest economy and most populous nation. In April last year, Cook flew there to inaugurate the first shop in Mumbai, the financial capital, followed by the second one in Delhi, the federal capital.
