Apple CEO Tim Cook expressed great enthusiasm for the company’s performance in India during an earnings call on Friday, following the announcement of Apple’s second-quarter financial results for 2024.
What Happened: “We are very, very pleased,” Cook said, highlighting the “strong double-digit growth” in the market. He also pointed out the strategic importance of local production, stating, “You need to produce there to be competitive.”
Despite a 4% decline in overall quarterly revenue to $90.8 billion, Apple achieved an “all-time revenue record in Services,” Cook emphasized. He also noted record revenues in over a dozen countries, including ” Latin America and the Middle East, as well as Canada, India, Spain, and Turkey.”
Cook elaborated on Apple’s initiatives in India, mentioning the company’s recent efforts to “replenish 100% of the water we use in places that need it most.” He underscored the significance of these environmental efforts, aiming to “deliver billions of gallons of water benefits over the next two decades.”
Further highlighting the company's expansion in India, Cook discussed the opening of two stores last year and the ongoing development of the local market and developer ecosystem.
“We've been very pleased that there is a rapidly growing base of developers there. And so, we are working the entire ecosystem from developer to the market to operations, the whole thing. And, I just, I could not be more excited and enthusiastic about it,” he added.
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