Apple CEO Tim Cook on Tuesday said his company is working towards bringing all the companies initiatives, including retail, to India. Speaking to analysts and journalists during the quarterly earnings call, Cook said Apple has set a “first-half record” in India and would continue to “put great energy there”. He acknowledged that India is a huge market with many people moving into the middle class over time.
Earlier, Apple announced its results for the second quarter of 2018 posting a quarterly revenue of $61.1 billion, an increase of 16 per cent from the year-ago quarter. “We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. He said customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. “We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan,” he said, underlining that fact that international sales accounted for 65 percent of the quarter’s revenue.
In the earnings call, taking another question on India, Cook highlighted the fact that Apple’s “extremely low share” in the third largest smartphone market in the world only made it a huge opportunity for the company. He said Apple was working with local carriers who were investing enormously on LTE networks. He said the infrastructure has come quite a ways since “we began to put a lot of energy in there because of their leadership and so forth”.
Taking a question on the success of the iPhone X, Apple’s latest $1000 flagship, Cook attributed the 14 per cent year-over-year growth on iPhone as a “combination of single digit unit growth and ASP growth” driven mainly by iPhone X. He said the iPhone line up now caters to the “variety of different customers” and will continue to provide different iPhones for people to meet their needs.
Cook said that since Apple split the top line offering with the iPhone 6 and 6 Plus in 2014, this is the first cycle were the “top of the line iPhone model has also been the most popular”.