Edited By: Shaurya Sharma
Last Updated: February 04, 2023, 10:51 IST
Tim Cook says that there’s a massive opportunity for Apple in India post the COVID-19 pandemic.(File photo)
CEO Tim Cook views India as a “hugely exciting market” and plans to expand Apple’s presence there with the online store, retail presence, and more affordable financing options.
Apple released its Q1 2023 financial report on Friday, showing a revenue of $117.2 billion, a 5% decrease compared to the previous year. However, the tech giant saw exceptional results in India, reaching record-breaking numbers and leaving CEO Tim Cook feeling ‘very good’ as he stated in a statement.
“Looking at the business in India, we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed,” Tim Cook said about Apple’s growth in India. Tim also claimed that India is a “hugely exciting market” for Apple and remains a major focus.
He added, “We brought the online store there in 2020. We will soon bring Apple Retail there. We are putting a lot of emphasis on the market. There’s been a lot going from financing options and trade-ins to make products more affordable and give people more options to buy.”
Notably, Apple has been offering ‘Made in India’ iPhones for a while now, with vanilla iPhone models including iPhone 13, iPhone 14 coming down in price. The latter, for instance, has dropped in price across most retail channels, albeit not officially. Additionally, Pro models—iPhone 14 Pro and iPhone 14 Pro Max have seen huge demand in India as well.
Tim Cook agrees that there’s a massive opportunity for the company in India post the COVID-19 pandemic. “We actually did fairly well through COVID in India and I’m even more bullish now, hopefully on the other side of it. That’s the reason why we are investing there by bringing retail there, bringing the online store there and putting out significant amount of energy there. I’m very bullish on India.”
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