Apple’s Indian business set a quarterly record with double-digit year-on-year growth. Tim Cook, CEO of Apple, recently visited India to open the company’s first two stores in Mumbai and Delhi. Cook told analysts that India is an incredibly exciting market and a major focus for the company. The dynamism and vibrancy of the market are unbelievable.
Despite declining numbers in its second quarter, Apple saw good performance in emerging markets. The company achieved all-time records in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey, and the UAE, as well as March quarter records in Brazil, Malaysia, and India.
According to a Counterpoint Research report, Apple maintained its position as the leading premium brand with a 62% market share in India. Cook said that the company has many channel partners in India and is happy with how things are going overall. He believes that India is at a tipping point with many people entering the middle class.
