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Apple returned to growth in India, we are very happy with that, says CEO Tim Cook

Apple returned to growth in India, we are very happy with that, says CEO Tim Cook

Apple returned to growth in India, we are very happy with that, says CEO Tim Cook
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By CNBC-TV18 Jul 31, 2019 4:34:19 PM IST (Published)

Apple returned to growth in India, with the tech giant registering double digit growth in the country, the company revealed in an earnings call on Tuesday.

Apple returned to growth in India, with the tech giant registering double digit growth in the country, the company revealed in an earnings call on Tuesday.

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In a Q3 2019 earnings call with analysts late Tuesday, Cook said that tactically, the emerging markets had a bit of a rebound in the third quarter.
“India bounced back during the quarter, we returned to growth there. We're very happy with that,” Cook said. “We grew in Brazil, as well,” he added.
Apple CFO Luca Maestri said that the Cupertino, California-based company registered double digit growth in the Indian market.
“In emerging markets, we returned to growth in mainland China, grew strong double digits in India and in Brazil, and we set new Q3 records in Thailand, Vietnam and the Philippines,” said Maestri.
Across the board, Cook reported encouraging numbers for Apple, including an over 50 percent growth for its wearables business.
“We saw significant improvement in year-over-year iPhone performance compared to last quarter. Very strong performances for both Mac and had an absolute blowout quarter for wearables where we had accelerating growth of well over 50 percent and a new high watermark for services where we set an all-time revenue record of $11.5 billion,” Cook said.
However, Apple’s flagship product iPhone saw a 12 percent decline from the June 2018 quarter.
“For iPhone, we generated $26 billion in revenue. While this is down 12 percent from last year's June quarter, it is a significant improvement to the 17 percent year-over-year decline in Q2,” said the Apple chief.
Talking about the upcoming launches, Cook said the American tech giant has a slew of offerings slated for release in the coming months.
“On so many fronts, there's an enormous amount to look forward to over the next few months including the launch of new services like Apple Arcade, Apple TV +, and Apple Card. And without giving too much away we have several new products that we can't wait to share with you.”
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