CEO Tim Cook confirms this ‘big news’ about Apple India plans

Apple CEO Tim Cook also planned to open four new retail stores in India. Its presence would increase even further in the market. “We can’t wait to bring four new stores to customers in India,” said Apple in the Q4 2024 earnings call of the company. The new places will include Bengaluru, Pune, Mumbai, and Delhi-NCR. These are likely to generate nearly 400 jobs.

Cook expressed enthusiasm for the strong demand in India, where the company achieved a record revenue milestone during its September quarter. Existing stores in Mumbai’s BKC and Delhi’s Saket have already shown success, generating approximately Rs 800 crore in their first year.

This growth in India comes as Apple’s total iPhone revenue reached $46.2 billion for the quarter, an increase from $43.8 billion year-over-year. Additionally, Apple assembled $14 billion worth of iPhones in India during fiscal year 2024, doubling the previous year’s production and solidifying India’s role as a key manufacturing hub for the company.

Chief Financial Officer Luca Maestri noted strong performance across various product categories, with “double-digit growth” reported in India and South Asia. The iPad segment also performed well, contributing $7 billion in global revenue, an 8% increase from the previous year.

Overall, Apple’s September quarter revenue reached $94.9 billion, marking a 6% year-over-year increase and setting a new record for the quarter.

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