Apple delivers another record revenue quarter in India: Tim Cook
New Delhi, July 31
Apple CEO Tim Cook said that the company saw June-quarter revenue records in every geographic segment, including India, and results came despite "very significant constraints" in the supply chain and forex headwinds.
Apple Company posted quarterly revenue of $109.4 billion, up 16 per cent year over year. Company gross margin was 50.1 per cent, including a favourable impact of approximately 2 percentage points from tariff refunds.
Diluted earnings per share was $2.02, up 29 per cent year over year, and included a favourable impact of $0.11 from tariff refunds.
"We achieved June quarter revenue records in every geographic segment. We were pleased to see strength across the board with June quarter records in the U.S., Latin America, Western Europe, India, China Mainland, Japan, and Southeast Asia," said Cook.
Mac revenue was $10.4 billion globally, up 29 per cent year-over-year, a new June quarter record, driven by the strength of MacBook Neo and MacBook Pro.
Apple delivered another record revenue quarter in India, with Mac the standout performer - driven by a strong uptick in MacBook Neo adoption alongside continued robust demand for the iPhone 17 series, even as iPhone supply remained constrained in the country.
"As Tim mentioned, Mac had its best quarter ever for customers new to the Mac and for upgraders worldwide, including in the U.S., China Mainland, and India," said Kevan Parekh, CFO, Apple.
According to industry experts, Apple has kept pricing largely stable, reflecting its ability to navigate rising memory costs.
"We expect single-digit volume but double-digit value growth in India during CY 2026, and view an iPhone price hike as highly likely. Even so, the brand's aspirational pull should keep bringing new users into the ecosystem - a halo effect now visible across adjacent categories, with Mac shining brightest this quarter," said Tarun Pathak, Counterpoint Research director.
Rising component costs are forcing price increases across the Android ecosystem.
"However, Apple is expected to outperform the industry across its key hardware categories driven by the strength of its installed base and initial positive reception of Siri AI. June quarter results reinforce this view. OEMs face a difficult choice between protecting margins and protecting volumes, and the market will feel that pressure. Apple has so far avoided that trade-off," Pathak noted.
— IANS
Reader Comments
"Aspirational pull" - exactly! In India, owning an iPhone is still a status symbol. Many of my friends upgrade every time even if the changes are minor. But with rising prices, I wonder how long this will last. Good to see Apple investing in India though. 🇮🇳
Not everyone can afford Apple products. While I'm happy for the company, the bigger picture is that local brands like Xiaomi and Samsung are struggling. Apple's growth shouldn't come at the cost of our domestic manufacturing ecosystem. Also, why no mention of Make in India exports?
MacBook Neo seems to have won hearts! My colleague just bought one and the performance is amazing. But these prices... ₹1.5 lakh for a laptop is no joke. Maybe I'll stick to my Windows machine a little longer. 😅
The supply chain constraints are real - I waited 3 weeks for my iPhone 17 Pro! But it's worth it. Apple's ecosystem is unbeatable, and with Siri AI coming, it'll get even better. Good move by Apple to keep prices stable despite inflation.
I love how Apple is expanding in India, but let's not forget they're still very expensive for the average Indian. The "aspirational" factor is nice, but there's a huge market beyond just premium consumers. I hope they introduce more budget-friendly options in the future.
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