Tim Cook Announces Apple Achieves Record Revenue in India and Plans to Open 4 New Retail Stores

Apple, which achieved an all-time high revenue in India during the September quarter, is set to open four more company-owned retail stores in the country, Apple's chief executive Tim Cook announced. Apple reported $94.9 billion in revenue during the July-September period, a September quarter record and up 6 per cent from a year ago.

iPhone increased in each geographic segment. The category recorded a new September quarter revenue high, while services set an all-time revenue record and rose 12 per cent year over year.

We are very excited about the interest we are seeing in India where we set a new record for revenue. This has been an amazing year for innovation at Apple, Cook said during the quarterly earnings call (Q4 fiscal year 2024) late on Thursday.

In addition to growth in developed markets, "we also saw strong performance in many emerging markets with double-digit growth in Mexico, Brazil, the Middle East, India, and South Asia," he informed.
Apple has two retail stores in India — in New Delhi (Saket) and Mumbai (BKC).

According to Cook, "we can't wait to bring four new stores for customers in India. We are eager to education and believe the tech has a vital role in helping teachers inspire and teaching students about the whole world."

Company: The company, said by Luca Maestri, SVP Chief Financial Officer is "generated an all-time revenue record for September quarter.

As India continues to break all previous records on local mobile manufacturing, tech giant Apple is on course to surpass the FY24 figures of exports from India, reaching over Rs 50,000 crore (more than $6 billion) in the first six months of this fiscal (FY25), according to the latest industry data.

The iPhone exports from India have jumped to cross $10 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the iPhone maker's India operations reached $23.5 billion in value in the last fiscal (FY24).

Apple assembled $14 billion of iPhones in India in the last fiscal, exporting more than $10 billion worth of devices.