Apple reports another record quarter in India driven by iPhone sales

Apple has reported another quarter with record revenues from India, driven by greater iPhone sales.

“India grew in income phrases, reporting robust double digits in the December quarter, and hit a quarter income record,” Tim Cook, CEO, Apple Inc, stated at an analyst name publish the quarter numbers.

India’s smartphone shipments remained flat in 2023 at 152 million items, in response to the newest analysis from Counterpoint’s Monthly India Smartphone Tracker, however Apple shipments crossed the 10-million mark, serving to it seize the highest place in income for the primary time ever in a calendar 12 months.

Counterpoint Research Analyst Shubham Singh stated, “The premium phase (>INR 30,000, ~ $360) witnessed 64 per cent YoY progress in 2023 driven by straightforward financing schemes, which resulted in customers leaping worth bands to buy higher-priced smartphones. One out of each three smartphones was bought via financing in 2023. Apple’s deal with India can be aiding the pattern, with the model surpassing the 10-million-unit mark in shipments, and capturing the highest place in income in a calendar 12 months for the primary time, propelled by sturdy demand for each its newest and older iPhones. The opening of our personal retail shops and growing deal with LFR (large-format retail) via common promotions, contributed to elevated offline shipments. Besides, greater trade-in values introduced an interesting proposition for customers to transition to iOS.”