Despite declining smartphone sales in India, Apple set another revenue record in India. Announcing quarterly results for its fiscal 2024 third quarter, CEO Tim Cook revealed that the company set a new revenue record in more than two dozen countries, India being one of them.
“We also set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand,” Cook said.
Apple posted quarterly revenue of $85.8 billion — up 5 per cent year-on-year.
MacBooks, which usually don’t have many takers in India’s market with poor demand for PCs, also fared well. Apple CFO Luca Maestri also revealed that revenue from Mac devices was up 2 per cent y-o-y. “We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia,” he said. The Mac revenue, per Maestri, was driven by the M3-powered MacBook Air.
Breaking down the quarterly revenues, Apple revealed that iPhone sales totalled $39.30 billion, slightly down 0.94 per cent y-o-y. With the iPhone 16 series set to launch later in September, it was expected that the revenue from iPhone would slightly drop. Historically, iPhone revenue in the third quarter is comparatively low for Apple.
In contrast, Mac sales climbed 2.46 per cent to $7.01 billion, and iPad sales surged 23.63 per cent to $7.16 billion.