Despite the worldwide slump, Apple sells more iPhones than ever before in India

 Despite the worldwide slump, Apple sells more iPhones than ever before in India

The business, which just launched its first locations there, intends to grow its network in India as part of an Asian-wide initiative.

A record was established for iPhone sales in India, and Apple Inc.'s revenue growth in China was an unexpectedly high 8%; both achievements stood out in an otherwise dismal quarterly report from the most valuable corporation in the world.

 

After Apple reported its third consecutive quarter of dropping sales and forecast a similar result in the current quarter, affected by an industry-wide downturn that has weakened demand for phones, desktops, and tablets, those two milestones stood out.

The creator of the iPad and Macbooks announced better-than-expected growth in China sales of 7.9%, which includes Hong Kong and Taiwan, to $15.7 billion. Executives did not provide specific figures, but iPhone sales in India increased by double digits to a record high. 

Since last year, China in particular has been a significant drag on the global smartphone market and has not recovered as quickly as was expected due to the post-Covid economic turmoil. CEO Tim Cook claimed that customers in the largest mobile market in the world were switching to Android alternatives from its top competitors, Xiaomi Corp. and Huawei Technologies Co.

"Switchers were a very significant part of our iPhone results for the quarter, we succeeded in establishing a record," Cook said at a post-earnings conference to analysts.

Along with a faltering economy, China's smartphone sector is experiencing difficulties. Since the beginning of 2022, shipments have decreased every quarter as customers tighten their belts in preparation for a post-Covid slump. When Apple and its competitors regularly debut their newest products in the fourth quarter, the market may recover, but IDC anticipates that growth may be less robust than anticipated.

While predictable, the company's performance in India also justifies its increased attention on a nation where the iPhone has long been out of reach for many customers. Apple currently sees the quickly developing nation as a huge retail potential as well as a significant production base for its devices in the long run. 

According to Bloomberg News, Apple's sales there increased by roughly 50% in the year ending in March to reach around $6 billion. The business, which recently built its first locations there, intends to grow in India as part of an Asian-wide initiative.