Double digit growth for Apple in India and other emerging markets: Tim Cook - CNBCTV18

Apple CEO Tim Cook, during the company's quarterly earnings calls, acknowledged the brand's rapid growth in India and put the country in his list of 'emerging markets'.“We set a new June quarter revenue record of $81.4 billion, up 36 percent from last year, and the vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India, Latin America, and Vietnam,” said Cook.He added, “Apple is reporting a very strong quarter with double-digit revenue growth across our product and services categories and in every geographic segment.”

He also pointed out that customers in India have been ahead of several other nations in switching to iPhones and in upgrading their existing iPhone models. When asked about switchers and upgraders in emerging markets, Cook said, “We had an incredible quarter for the emerging markets in Q3. We set June quarter records in Mexico, Brazil, Chile, Turkey, UAE, Poland, Czech Republic, India, obviously in China as I talked about before, Thailand, Malaysia, Vietnam, Cambodia, Indonesia... Those results are for the entire line of products that we have.”

Tim Cook also mentioned that the iPhone SE has been selling well in emerging markets, such as Mexico, Brazil, Chile, and India. He said, “We launched SE a year ago but it's still in the line today and is sort of our entry price point... And so we’ve got something for the entry buyer who wants to get an iPhone and then something for the pro buyer who wants the very best iPhone that they can buy.”For April, May, and June, Apple recorded revenue of $81.43 billion, up 36 percent year-on-year. According to the company, it made a profit of $21.74 billion in this quarter. The earnings-per-share in this quarter was registered at $1.30.Currently, Apple's lineup includes — iPhone SE, iPhone 11, iPhone XR, and the entire iPhone 12 lineup. 

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Double digit growth for Apple in India and other emerging markets: Tim Cook - CNBCTV18
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