Apple sets record India revenue driven by iPhone sales, plans 4 new stores

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The story "Apple sets record India revenue driven by iPhone sales, plans 4 new stores" was covered 2 weeks ago by Business Standard, a news publisher based in India.

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Apple sets record India revenue driven by iPhone sales, plans 4 new stores - Business Standard

Quick Summary:

Apple is actively strengthening its position in India, where it currently holds just under 7 per cent of the smartphone market by volume but ranks second in value share at 22 per cent, according to Counterpoint Research.

Tim Cook emphasised that initial feedback for the iPhone 16 has been positive, surpassing the early performance of last year’s iPhone 15.“We’ve had great feedback from customers and developers already,” Cook noted.“We’re off to a good start.

China remains a critical market for Apple, yet fourth-quarter sales in the region fell slightly short of expectations, reaching $15.03 billion—below Visible Alpha’s forecast of $15.78 billion.