-Apple has seen a new doubling of its revenues in India in the April-June period, setting a new all-time record in the country particularly riding on its iPhone 13 series, CEO Tim Cook has announced.
Apple has announced that it now has over 860 million paid subscribers across all of its services, which includes Apple Music, Apple TV+, Apple News, iCloud, and more.
New Delhi / San Francisco, NFAPost: Apple has seen a new doubling of its revenues in India in the April-June period, setting a new all-time record in the country particularly riding on its iPhone 13 series, the company’s CEO Tim Cook has announced.
Speaking to analysts after posting a record June quarter, Apple CEO Tim Cook said that the quarter recorded record revenue in developed and emerging markets “with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India.”
“Apple continues to execute across some significant geographies with low penetration of iPhones between Indonesia, Vietnam and India where we did quite well. iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products,” said CEO Tim Cook.
Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year).
According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by the stupendous sale of iPhone 12 and 13 models.
Nearly 1 million of the total shipped iPhones were ‘Make in India’ devices.
Speaking about Apple’s services business, the company’s Apple CFO Luca Maestri mentioned that “we set June quarter revenue records in both developed and emerging markets and set all-time records in many countries including India.”
Maestri also highlighted how enterprise customers “are increasingly investing in Apple products as a strategy to attract and retain talent”.
“Wipro, another large mobile enterprise customer, is investing in MacBook Air with M1 as a competitive advantage when recruiting new graduates globally – thanks to its superior performance and lower total cost of ownership,” said Apple CFO Luca Maestri.
With the new M2 chip powering MacBook Air and the 13-inch MacBook Pro, Apple CFO Luca Maestri said the company expects more customers to make Mac available to their entire workforce.
In India, Apple iPads logged an impressive 34% growth (on-year) in India and the company sold over 0.2 million devices in the country, according to CMR.
Apple iPad (Gen 9) and iPad Air 2022 accounted for a lion’s share of the iPad shipments,” according to the CMR Q2 data.
Apple’s enhanced and diversified iPhone production capabilities in India, along with aggressive retail initiatives (although its first retail store in the country is delayed owing to the pandemic), continue to contribute to its strong growth momentum in India.
Earlier this year, the tech giant confirmed it has started manufacturing its top-selling iPhone 13 smartphone in India.
Apple first started manufacturing iPhones in India in 2017, with iPhone SE.
Apple now has over 860 m paid subscriptions across services, says CFO
Apple has announced that it now has over 860 million paid subscribers across all of its services, which includes Apple Music, Apple TV+, Apple News, iCloud, and more.
Luca Maestri, Chief Financial Officer at Apple, said that the company saw increased customer engagement with its Services during the quarter.
“We now have more than 860 million paid subscriptions across the services on our platform, which is up more than 160 million during the last 12 months alone,” he said during the June quarter earnings call with analysts.
The CFO mentioned that Services had a June quarter revenue record of $19.6 billion, up 12% despite almost 500 basis points of FX headwinds and impacts from our business in Russia and the macroeconomic environment.
“The record level of performance of our services portfolio during the June quarter reflects the strength of our ecosystem on many fronts: First, our installed base has continued to grow, reaching an all-time high across each geographic segment and major product category,” said Maestri.
“And finally, we continue to improve the breadth and the quality of our current Services offerings, from a constant flow of new content on Apple TV+ and Apple Arcade to great new features we recently announced for iCloud and Apple Music, which we believe our customers will love,” he added.
Meanwhile, Apple CEO Tim Cook said that in two and a half years since launch, Apple TV+ has earned 250 wins and over 1,100 award nominations.
