APPLE’S EXPORTS TO INDIA REACH RECORD HIGH

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Apple Sets New Shipment Records for India in Q3

According to analyst firm Counterpoint, Apple achieved its highest-ever device shipments to India in the July-to-September quarter. The Cupertino-based tech giant reported a global revenue of $89.5 billion for the quarter, a slight decrease from $90.1 million from the previous year.

During the announcement of the company’s quarterly results, Apple CEO Tim Cook highlighted India’s remarkable performance, stating, “We achieved an all-time revenue record in India, along with September quarter records in several other countries, including Brazil, Canada, France, Indonesia, Mexico, the Philippines, Saudi Arabia, Turkey, the UAE, Vietnam, and more.” iPhone revenue exceeded the company’s expectations, setting a record for the September quarter.

According to Counterpoint, Apple shipped over 2.5 million iPhone units to India during the quarter. However, Mac demand has declined, and the company aims to address this with the launch of new M3-powered devices.

When asked about India’s momentum, Cook expressed his enthusiasm for the Indian market, saying, “We achieved an all-time revenue record in India, with strong double-digit growth. It’s an incredibly exciting market for us and a major focus of ours. We have a relatively small market share in a large market, indicating significant growth potential. India is experiencing a rise in the middle class, and we see numerous opportunities. We’ve already opened two retail stores there, and they are performing better than anticipated. It’s still early, but they are off to a promising start, and I am pleased with the current progress.”

iPhone revenue for the quarter reached $43.8 billion, representing a 3% year-over-year increase.

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