Apple's Revenue In India Hits All-Time High As iPhone 16 Sales Surpass iPhone 15; CEO Cook Announces Four New Stores

Apple announced record-breaking revenue for its most recent quarter, driven by strong global iPhone sales. CEO Tim Cook highlighted India’s role in this success, noting that iPhone sales there hit an all-time high.

"We continue to be excited by the enthusiasm we are seeing in India, where we set an all-time revenue record in the September quarter," Tim Cook shared on an investors’ call.

Beyond iPhones, Apple’s iPad saw robust growth in India, with double-digit sales increases. Cook also confirmed Apple’s plans to expand its retail presence with four new stores in Bengaluru, Pune, Mumbai, and Delhi-NCR.

Currently, Apple has stores in Mumbai and New Delhi. The first store was opened in April last year in Mumbai's Bandra-Kurla Complex, followed by a second store in Delhi's Select Citywalk.

Globally, Apple’s revenue surpassed Wall Street projections, with total sales rising 6.1 per cent to $94.9 billion, exceeding analysts' expectations of $94.4 billion.

In China, however, Apple encountered challenges as revenue dipped slightly to $15 billion, impacted by local competition. Still, iPhone sales grew across all geographic regions, with Cook attributing the decline in China to weaker performance in other product lines.

The quarter, which ended on 28 September, included the initial sales period of the new iPhone 16 series, launched on 20 September. Early demand for the iPhone 16 outpaced last year’s iPhone 15 in the same timeframe.

Cook also reported high interest in the latest iPhone operating system, featuring new Apple Intelligence capabilities, with adoption rates twice as high as last year’s version. "Feedback from customers and developers has been outstanding," he noted, marking a promising start for the new OS.