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Apple has achieved record-breaking revenue in India during the July-September quarter, driven by strong sales of iPhones and iPads. The company reported an estimated $3.75-4 billion in revenue, marking its highest quarterly sales in the country and its 10th consecutive quarter of year-on-year growth in the world's fifth-largest economy. This performance highlights Apple's growing dominance in the Indian consumer gadgets market, where it is now poised to lead in terms of revenue share.
The surge in Apple's India revenue can be attributed to a combination of factors. The company's iPhone lineup remains highly aspirational in India, and strategic discounts, exchange offers, the emergence of a robust used-device market, and readily available financing options have made iPhones more accessible to a wider range of consumers. These factors have significantly reduced the average cost of ownership for iPhones, making them more comparable to other smartphones in the market.
Apple's strong performance in India was further bolstered by its strategic expansion into the country. The company opened two new stores during the quarter and plans to open four more in the near future, demonstrating its commitment to the Indian market. In addition to iPhones, Apple is also experiencing growth in its Mac and iPad sales, fueled by the growing demand for premium devices and the increasing use of iPads as larger infotainment displays.
Despite Apple's impressive performance in India, its global revenue for the September quarter was impacted by weak demand for iPhones in China. While Apple's revenue exceeded analysts' expectations for the quarter, the company's weaker-than-expected guidance for the December quarter, driven by the situation in China, led to a decline in its stock price. Despite this, Apple remains optimistic about its future prospects in India and expects continued growth in the country, driven by the increasing demand for premium devices and its expanding retail presence.
Source: Apple marks record India, global quarterly revenues, driven by iPhone sales