Apple CEO Tim Cook extremely optimistic and bullish about India

International sales made up almost 61 percent of Apple's this quarter's revenue

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Highlights

    • Apple has seen a decline in the Asian markets
    • Apple sees India as the next big market
    • The Apple iPad tablet category has shown a growth of 28 percent

Apple CEO Tim Cook on Tuesday stated that he is very bullish and optimistic about India as he sees a lot of similarities between India and where China was several years ago. He said this at Apple’s third quarter earnings call. Tim Cook also mentioned about the app accelerator centre recently launched in India along with the start of the production of the Apple iPhone SE in India. Apple currently is looking at India as its next growth market as China sales decline. Recently the company has seen a dip of 28 percent for this quarter in the Asian market. International sales made up almost 61 percent of the company’s quarter’s revenue.

Apple, Tim Cook

“With revenue up 7 per cent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,”
said Tim Cook

The company’s Q3 numbers were better than the previous quarter with the company posting a quarterly revenue of $45.4 billion compared to the previous quarter when the company posted a revenue of $42.4 billion.

Also Read: Apple is removing VPN apps from its app store in China

Apple CFO, Luca Maestri said that in the June quarter the company had reported an overall unit and revenue growth in all of its product categories. He also said that they had returned $11.7 billion to its investors during Q3 thus bringing cumulative capital returns to almost $223 billion.

Interestingly, the Apple iPad tablet category has shown a growth of 28 percent compared to the previous quarter. Previously, the iPad category was seeing a decline due to a low number of sales, which might have changed when the company introduced the new iPad lineup at WWDC 2017 in June.