Apple India Business Grew In Double Digits YoY, Set Quarterly Record: Cook

iPhone maker Apple saw its Indian business set a quarterly record as it grew in double-digit year-on-year (YoY), said the company.

Tim Cook, CEO, Apple who recently visited India to open its first two stores in the country told analysts: “It was quite a good quarter for us, taking a step back, India is an incredibly exciting market. It's a major focus for us. I was just there, and the Dynamism in the market, the vibrancy is unbelievable. Over time, we've been expanding our operations there to serve more customers, and three years ago, we launched the Apple Store online, and then, as you just mentioned, we launched two stores just a few weeks ago, and they're off to a great start, one in Mumbai and one in Delhi.”

The quarterly record growth in India comes at a time Apple has seen its second quarter of declining numbers. The company saw emerging markets doing well.

"We were particularly pleased with the performance we saw in emerging markets and achieved all-time records in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey, and the UAE, as well as a number of March quarter records, including in Brazil, Malaysia, and India", said Cook.

India performance comes on the back of some good growth that the company has seen in the recent past in the country. According to a Counterpoint Research report, Apple kept its pace as the leading premium brand with a 62 per cent market share.

“We've got a number of channel partners in the country as well that we're partnering with, and we're very happy with how that's going overall. There are a lot of people coming into the middle class, and I really feel that India is at a tipping point, and it's great to be there,” Cook told analyst on the earnings call.