Recorded double-digit growth in India: Apple CEO
The iPhone maker Apple CEO Tim Cook on Friday said he is delighted and excited about India as the company continues to record double-digit growth in the country.
During Apple’s earnings call for the second quarter of fiscal year 2026, which ended March 28, Cook said India is the second-largest smartphone market in the world, and the third-largest PC market, and despite doing very well, Apple still has a modest share, which speaks about the opportunity the country has. “I’m over the moon excited about India,” Cook said in response to an analyst’s question on India. The longest-serving CEO of Apple, Cook, is set to transition out of his position on September 1.
He will be succeeded by John Ternus on the same date. Cook said India offers a huge opportunity for Apple.
“It’s the second largest smartphone market in the world and the third largest PC market, and despite doing extremely well there for quite some time, we still have a modest share. And so I think that really speaks to the opportunity that we have,” he said.
Cook said that there are a lot of people moving into the middle class in India.
“We have got some great products for them both currently and coming. The majority of customers in all of our categories, from the iPhone to the Mac to the iPad to the Watch, are new to that product there. And so it speaks very well to growing the installed base there,” he said. The net income of Apple in the reported quarter increased by about 19.36 per cent to $29.57 billion from $24.78 billion.
Apple during the reported quarter posted a 17 per cent increase in revenue to $111.2 billion on a year-over-year basis from $95.35 billion in the March 2025 quarter.
iPhone revenue increased by 22 per cent on a YOY basis to $57 billion.
“iPhone grew double digits in the majority of markets we track, including the U.S., Latin America, Greater China, Western Europe, India, Japan, and Southeast Asia,” Apple CFO Kevan Parekh said.
