Apple's Q1 earnings reveal record-breaking quarter in India; CEO Tim Cook reveals big milestone | Tech News

Apple's Q1 earnings reveal record-breaking quarter in India; CEO Tim Cook reveals big milestone

During Apple's Q1 earnings call, CEO Tim Cook announced that the company broke December quarter records in India and other countries.

By: HT TECH
| Updated on: Feb 02 2024, 10:14 IST
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Apple achieved a December quarter record in India, CEO Tim Cook said. (REUTERS)

2023 was a great year for Apple with not only launches of existing products such as the iPhone 15 and Mac but also the introduction of new ones as well like the Vision Pro. The company ended the year on a high, and became the top smartphone maker in the world, dethroning Samsung. During the year, India became one of the key markets for the tech giant as it opened two official flagship stores in the country - Apple Saket in Delhi and Apple BKC in Mumbai. Apple's Q1 quarter earnings call also revealed that it broke the December quarter record in the country!

Apple Q1 earnings call results

During the Q1 earnings call, Apple CEO Tim Cook said that the company broke December quarter records in India, as well as a few other countries. Responding to an analyst questions, Cook multiple times referenced that India grew in revenue terms and achieved strong double digits in the December quarter. This also resulted in a new quarter revenue record.

Speaking about Enterprise, Luca Maestri, Chief Financial Officer at Apple, highlighted Indian multinational technology company Zoho. Among the company's 15000 global workforce, 80 percent of users used iPhone for work, while nearly two-thirds of them choose Mac as their primary computer.

These findings come just days after Counterpoint Research claimed that Apple shipments crossed 10 million for the first time in India, helping it capture the top position in revenue for the first time ever in a calendar year.

Announcing the earnings, Cook said, “Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services. We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments. And as customers begin to experience the incredible Apple Vision Pro tomorrow, we are committed as ever to the pursuit of groundbreaking innovation — in line with our values and on behalf of our customers.”

For the quarter, Apple recorded a revenue of $119.6 billion compared to $117.2 billion during the same period last year.

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First Published Date: 02 Feb, 09:50 IST
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