Apple revealed that it achieved a record quarter with $83.4 billion in revenue during the September quarter results call, a 29 percent increase year on year. In terms of the Indian market, CEO Tim Cook confirmed on the earnings call that Apple has doubled its business in India.
The record-breaking quarter in India may be attributed to holiday season online sales as well as attractive deals that enticed Indian shoppers. During the Christmas discounts, the iPhone 12 was available for less than Rs 50,000, and Apple’s offer of free AirPods with the iPhone 12 may have contributed to the total results.
“Apple set quarterly records in every geographic segment with strong double-digit growth across the board,” Cook said during the earnings call. “During fiscal 2021, we earned nearly one-third of our revenue from emerging markets,” he added. About India, Cook said, “doubled our business in India and Vietnam.”
Luca Maestri, Apple’s CFO, said, “Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro-environment.”
Despite supply chain constraints, Apple hopes to achieve a new record for the December holiday quarter. The company’s services set an all-time quarterly sales record of $18.27 billion, up roughly 25% over the previous year. Apple Music, App Store, Apple Arcade, Apple TV+, AppleCare+, iCloud, and more services are available through Apple.