Apple delivered a blockbuster quarter for iPhone sales as holiday spending and consumer sentiment in China rebounded, posting record revenue of $143.8 billion.
It marks a 16 per cent increase year-on-year and comfortably beats the company’s guidance of 10-12 per cent.
Among the key drivers of the Q1 earnings was Apple’s growing momentum in India. CEO Tim Cook said the company continued to gain traction in emerging markets, “which includes India, where we saw strong double-digit revenue growth”.
Cook also pointed to the “best-ever results in retail during the quarter”. He said: “We were excited to open our fifth store in India in December and have plans to open another store in Mumbai soon.”
The iPhone remained the standout performer. A strong launch for the iPhone 17 in September pushed the smartphone’s revenue up 23 per cent year on year in the three months to the end of December. “This is the strongest iPhone lineup we have ever had and by far the most popular,” Cook said.
Asked about iPhone traction in India, Cook said: “We did set a quarterly revenue record during the December quarter, and to go a little further down, we set quarterly revenue records on iPhone, Mac and iPad, and an all-time revenue record on services. So it was a terrific quarter in India.”
Apple CFO Kevan Parekh echoed that sentiment, noting strong underlying momentum. “We’re seeing strong double-digit growth in the install base in India,” he said
Neil Shah, research vice-president at market research firm Counterpoint Research, told The Telegraph that Apple’s performance stood out despite its premium pricing. “It has been averaging around 40 per cent year-on-year growth and is at the crux of the premiumisation smartphone trend in India,” Shah added.
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