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NRIPage | Articles | Good news for Indian Apple fans: CEO Tim Cook confirms plans to open 4 new Apple Stores in India | Get Latest NRI News & Updates. Latest News & Updates for NRIs Worldwide - NRI Page
Apple is planning to open four additional flagship stores in India, following a record-breaking quarter for iPhone sales. CEO Tim Cook highlighted the increasing enthusiasm for Apple products in the Indian market, which contributed to Apple's all-time high revenue from the country.
During Apple’s recent earnings call, Cook revealed that iPhone sales had grown across all regions, setting new records worldwide. India, however, stood out significantly, with Apple achieving record revenue. "We’re thrilled with the excitement we’re seeing in India," Cook shared, noting the company's plans to open more stores across the country, building on the success of its initial store launches.
In addition to iPhones, Apple also reported a record high in iPad sales in India. CFO Luca Maestri noted that over half of the Indian customers purchasing iPads this quarter were first-time buyers. He further emphasized Apple's strong double-digit growth in other emerging markets, including Mexico and the Middle East.
Apple’s Position in India’s Smartphone Market
Apple now holds a 22% share of India’s smartphone market by revenue, ranking second only to Samsung, according to Counterpoint Research. The recent launches of the iPhone 15 and iPhone 16, timed to align with the festive season, have helped boost Apple’s market position. Samsung narrowly leads Apple with a 23% revenue share, supported by its flagship Galaxy S series and budget-friendly A-series, M-series, and F-series devices.
For the September quarter, Apple reported $94.9 billion in revenue globally, a 6% increase from the previous year, with iPhone sales growing 6% worldwide. Looking ahead, Apple anticipates steady growth, aided by gradual releases of new AI features across its product lineup.
Indian Market’s Shift Toward Premium Models
The Indian smartphone market is increasingly shifting towards premium models, driven by consumer interest in higher-priced devices. This trend is further supported by flexible EMI options and trade-in programs, making premium devices more accessible to a wider audience.
