Apple CEO Tim Cook has expressed satisfcation over his company's excellent performance in India during the first quarter (US financial year) ended December 26,2020.
Cook pointed out that Apple's business doubled in India and added that the management feels very good about the trajectory. However, he also acknowledged that the company's share is quite low in India.
The company has recorded a record revenue of $111.4 billion which is higher by 21% on a year-over-year basis. The new iPhone 12 and iPads have significantly helped in raising the numbers.
“This is particularly the case in some of the emerging markets where we’re proud of how we’ve done. If you take India for example, we doubled our business last quarter compared to a year ago but our absolute level of business there is still quite low relative to the size of the opportunity,” Cook said while talking to analysts after the results came out.
Talking about India's contribution to the copany's growth, Tim Cook said, "While in India Apple’s market share is quite low it did improve from the year-ago quarter, our business roughly doubled over that period of time, so we feel very good about the trajectory.”
The Apple CEO cited Apple online stores as one of the reasons for growth that has brought a good reaction for the same and helped the company achieve the results that it got to last quarter. He announced that the company is also going to open retail stores in the future.
