Apple Reports Record Revenue, Credits Surge in India iPhone Sales; Plans 4 New Stores, Says CEO Tim Cook

Apple has achieved record-breaking revenue, fueled by robust global iPhone sales, with India playing a pivotal role. CEO Tim Cook highlighted that iPhone sales in India reached an all-time high, driving excitement for the company’s future in the region. Alongside strong iPhone sales, Apple’s iPad also saw significant growth in India, with double-digit increases.

Cook announced plans to expand Apple’s retail footprint in India by opening four new stores across Bengaluru, Pune, Mumbai, and Delhi-NCR. Currently, Apple operates two stores in the country: Apple BKC in Mumbai and Apple Saket in New Delhi.

Globally, Apple surpassed Wall Street expectations, with quarterly revenue reaching $94.9 billion, up 6.1% from the previous year. Earnings per share stood at 97 cents, or $1.64 excluding a one-time European charge.

Despite this success, Apple faced hurdles in China, where revenue slightly declined due to local competition. However, iPhone sales grew across all other markets. Early sales for the newly launched iPhone 16 series have outpaced those of the iPhone 15, signaling strong consumer interest. Additionally, the adoption rate for Apple’s new operating system, featuring enhanced Apple Intelligence, is double that of last year’s version, with positive feedback from users and developers alike.