India’s first Apple Store coming soon, confirms CEO Tim Cook
- ByStartupStory | February 3, 2023
Apple CEO Tim Cook has announced the company’s financial results for the first quarter of fiscal 2023, which ended on December 31, 2022. During the earnings call, Cook stated that the Cupertino-based company’s quarterly revenue was down 5% year on year. Apple reported $117.2 billion in revenue for the quarter. As a result, Cook stated that he is very bullish on India.
During the earnings call, Tim Cook said, “Looking at the business in India, we set a quarterly revenue record and grew very strong double digits year over year and so we feel very good about how we performed.” Although the overall quarterly revenue dropped for the American company, it performed well in India.
Cook also emphasised that iPhone sales are strong in India, citing the Apple Online Store as a key factor. He also mentioned that the Mac and iPad product lines are doing well in India.
According to Apple CEO, the company will soon open a retail store in India hoping that it will strengthen business in the country. “We are investing there (India) by bringing retail there, bringing the online store there and putting out a significant amount of energy there. I am very bullish on India,” added Cook. He also believes that India is a hugely exciting market.
Meanwhile, the American tech behemoth is said to be planning the release of a foldable iPad in the near future. The Verge, a popular American technology news website, reported this story, citing a tweet from supply chain analyst Ming-Chi Kuo. Kuo is bullish on the foldable iPad, believing that its release will significantly improve the product mix and boost Apple’s overall shipments.
Kuo’s tweet has piqued the interest of both tech enthusiasts and Apple fans. The foldable iPad has been the subject of numerous rumours and speculations in recent years, and Kuo’s tweet appears to lend credibility to these rumours. If the foldable iPad is released as early as next year, it will be a significant milestone for Apple and could significantly disrupt the tablet market.
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