Apple CEO Tim Cook lauds company's double-digit revenue growth in India
Apple CEO Tim Cook lauds company’s double-digit revenue growth in India
Apple CEO Tim Cook has lauded the company’s double-digit revenue growth in India, marking a new March quarter record.
Cook has described India as an “incredibly exciting market” and a major focus for the company.
He expressed his contentment with India’s growing developer community, underlining Apple’s holistic approach covering everything from developer support to market strategies and operational efficiency.
Union Minister of State for Information Technology and Electronics Rajeev Chandrasekhar tweeted that Cook said, “We have been very pleased that there is a rapidly growing base of developers in India. Apple is working on the entire ecosystem from developer to the market to operations, the whole thing.”
“We did grow strong by double-digit, and so we were very, very pleased with that. It was a new March quarter revenue record for us. As you know, as I’ve said before, I see it as an incredibly exciting market and it’s a major focus for us,” said Cook on Apple’s performance in India.
India has become a top priority for global tech companies due to its large talent pool, low operating costs, and stable environment for supply chains. In this continuously evolving era of global geopolitical power India has emerged as a beacon for global tech corporations. In 2023, revenue growth rates for Apple, Microsoft, and Meta in India outpaced their global expansion rates.
“From a pragmatic point of view, you need to produce there (India) to be competitive, and so, yes, the two things are linked from that point of view, but we have both operational things going on and we have to go to market and initiatives going on,” he added.
Apple’s efforts to expand its presence in India include strengthening distribution channels and nurturing the developer community. Apple supported over a million developer jobs in India in 2023, with plans for further expansion.
Moreover, Apple’s achievement of setting a six-month revenue record in India and other emerging markets underscores the country’s significance in the tech landscape.