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tim cook: Apple has doubled its business in India, says CEO Tim Cook

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Cupertino-based tech giant Apple announced its quarterly results with some impressive numbers. During a call with the investors, Apple CEO Tim Cook revealed the emerging markets have played a significant role in the company’s fortune. “During fiscal 2021, we earned nearly one-third of our revenue from emerging markets,” said Cook. Further, he said that Apple had “doubled its business in India”.
This is the second consecutive quarter for Apple where it has set a new record in India. In the quarter ending in June, Apple had said that it set record numbers in India and achieved double-digit growth.
While Cook didn’t say what attributed to this significant jump, a report by Counterpoint Research has revealed that Apple leads the premium smartphone market in India. According to Counterpoint Research, in Q3 2021, Apple recorded 212% year-on-year growth and captured 44% of the premium smartphone market, which is phones above Rs 30,000.
Not just that but in the ultra-premium segment (above Rs 45,000), Apple garnered about 74% of market share. Counterpoint Research attributed this growth to the strong demand for iPhone 12 as well as iPhone 11. Do note that these numbers don’t include the impact of the iPhone 13 series as it was made available end-September only.
It’s not just about the iPhone though as in September 2021, Counterpoint revealed that Apple Watch had grown 34% year-on-year in India with high sales of Apple Watch SE and Series 6.
Apple posted a September quarter revenue record of $83.4 billion, up 29% year over year. Cook also said that Apple had set “an all-time record for Mac and quarterly records for iPhone, iPad, Wearables, Home and Accessories representing 30% year-over-year growth in products.”




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