During the September quarter, Apple posted record revenues of $90.1 billion, according to CEO Tim Cook, who also noted that emerging countries like India contributed significantly. The business’s yearly earnings increased 8% to $394 billion. Apple Inc. uses a September-to-October fiscal year.
“Across nearly every geographic segment, we reached a new revenue record for the quarter and we continue to perform incredibly well in emerging markets with very strong double digit growth in India, South East Asia and Latin America,” Cook said. The CFO of Apple added, “our performance was particularly impressive in several large emerging markets, with India setting a new all-time revenue record.”
As per the CyberMedia Research data, Apple sold 1.7 million iPhone units in India which was a growth of 44% on a quarter-on-quarter basis during the July-September months. The Registrar of Companies (RoC) at the Ministry of Corporate Affairs received Apple India’s FY22 earnings report, which revealed that for the fiscal year that ended in March, the company’s net profit increased 3% year over year to Rs. 1,263 crore, while its operating revenue increased 45.8% to Rs. 33,313 crore.
In the September quarter, Apple was the only vendor among the top five to have experienced a strong positive increase of 8% due to robust demand for iPhones despite a challenging market, according to a new analysis by Canalys. The premium smartphone manufacturer increased its global market share from 15% to 18% during the course of the previous year. According to the management, the company’s expansion in India saw a double-digit increase in the September quarter. For the India business, the quarterly numbers were not accessible.
Apple has a strong presence in India and exported iPhones worth $1 billion in the first five months of the current fiscal year, from April to August. It exported iPhones worth $1.3 billion in FY22, or an average of $108 million each month. At $200 million per month, the average in the first five months of the current fiscal year is twice as high as it was in the prior year. If things continue as they are, Apple might end the current fiscal year with exports worth up to $2.5 billion.
This is due to the fact that the $1 billion in exports does not account for iPhone 14 exports from India, which just started at the end of September 2022. The average export in dollars will rise much more if the iPhone 14 is included to the list of products exported from India because the factory value of an iPhone 14 is significantly higher than that of an iPhone 11 or iPhone 12.
