Apple CEO Tim Cook ‘very bullish on India’, confirms opening retail retailer

After Apple performing higher in Indian market than receiving general quarterly income drop in America, CEO Tim Cook mentioned India is a massively thrilling market and to strengthen the enterprise, Cupertino-based tech big will quickly open a retail retailer in India.

“I am very bullish on India,” Chief government officer of iPhone maker mentioned asserting the monetary outcomes on Thursday for the fiscal 2023 first quarter which ended on December 31. He added, “We are investing there (India) by bringing retail there, bringing the web retailer there and placing out a big quantity of vitality there.”

Apple registered revenue drop in nearly four years after pandemic in 2019. Revenue for the company fell 5% year-on-year (YoY) to $117 billion between October and December. Though, the business in India has fared well.

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“Looking on the enterprise in India, we set a quarterly income file and grew very sturdy double digits yr over yr and so we really feel superb about how we carried out,” Cook mentioned.

Cook emphasised the sturdy iPhone gross sales in India and attributed their success to the Apple Online retailer. He additionally talked about that the iPad and Mac product traces had been nicely obtained in India.

Apple first quarter consequence

Apple registered income drop in practically 4 years after pandemic in 2019. Revenue for the corporate fell 5% year-on-year (YoY) to $117 billion between October and December.

It’s the primary time Apple’s quarterly income has decreased YoY because the January to March 2019 quarter, when gross sales additionally decreased 5% because of declining iPhone demand and the consequences of US commerce battle with China.

Apple’s revenue has additionally declined within the final quarter. Earnings equalled $30 billion, or $1.88 per share, a 13 p.c lower from the identical interval final yr.

(Inputs from wire)