Apple CEO Tim Cook on Thursday mentioned the corporate’s document September quarter income of $90.1 billion is pushed by robust efficiency in rising markets like India, the place it has additionally set an all-time income document.
Cook mentioned in his earnings name, “Across almost every geographic region, we reached a new revenue record for the quarter and we continue to grow incredibly strong in emerging markets with very strong double-digit growth in India, Southeast Asia and Latin America.” proceed to carry out properly.” analyst
Apple’s fourth-quarter income of $90.1 billion was up 8 % yr over yr, whereas annual income of $394.3 billion was additionally up by the identical proportion from the prior yr.
Apple CFO Luca Maestri mentioned the corporate set September quarter information in most markets. “Our performance was particularly impressive in several large emerging markets, with India setting a new all-time revenue record and Thailand, Vietnam, Indonesia and Mexico more than doubling year over year.”
Responding to analysts’ questions on world inflationary pressures and overseas alternate headwinds, Maestri mentioned that regardless of this, Apple continues to see “very strong double-digit growth in India, Indonesia, Mexico, Vietnam and many places where we have has performed incredibly well”.
“Obviously in the local currency, those growth rates are even higher. It is important for us to see how these markets perform in the local currency because it really gives us the customer feedback for our products, along with our ecosystem. Gives a good sense of engagement and the strength of the brand in general. And I must say in that regard, we feel very good about the progress we are making in many markets around the world,” he mentioned.
Interestingly, Cook mentioned that “silicon-related supply constraints were not significant” within the quarter, though he clarified that “we are still going through unprecedented times” from the struggle in Eastern Europe and the COVID-19 and local weather disasters. with firmness. “Through all of this, we have aimed to help our customers navigate through challenges while providing them with the tools to drive progress for themselves and their communities.”
Meanwhile, analysis agency Canalys mentioned weak demand in LED smartphone shipments declined 9 % year-on-year within the third quarter of 2022, with Apple being the one main vendor to develop 8 %, even because the That Samsung was at its peak. place. Canalys Research Analyst Runner Björhovde mentioned: “Apple has reached its highest Q3 market share but, pushed by each the iPhone 13 and the newly launched iPhone 14 sequence. The recognition of the iPhone 14 Pro and Pro Max, particularly This will contribute to increased ASP and secure income for Apple.
With inputs from TheIndianEXPRESS
