Bengaluru: Apple doubled its business in India during the fiscal 2021, as per CEO Tim Cook .
“During fiscal 2021, we earned nearly one-third of our revenue from emerging markets and doubled our business in India and Vietnam. We are optimistic about the future, especially as we see strong demand for our new products,” Cook said during the company’s fourth quarter earnings conference call on October 28.
He added that the company also achieved more than 20% growth across all of its product categories and in every geographic segment. “This fiscal year, we reported $366 billion of revenue, which represents 33% annual growth,” he said.
The company’s CFO Luca Maestri added, “We also reached new Q4 records in every geographic segment with strong double-digit growth in each one of them. And it was a record September quarter for both, products and services.”
As per a report by Counterpoint Research released on Thursday, Apple emerged as the fastest growing brand in July-September 2021 quarter in India, with 212% year-on-year growth and led the premium smartphone market (prices over Rs. 30,000) with a 44% share.
“The brand maintained its leading position in the ultra-premium segment (> Rs. 45,000 or ~$650) with a 74% share. Strong demand for the iPhone 12 and iPhone 11 were the major factors in Apple’s growth. Apple became the top 5G smartphone brand in the premium segment for the first time,” according to Counterpoint.
