Apple's India Revenue Nearly Doubles In June 2022 Quarter

Apple's India Revenue Nearly Doubles In June 2022 Quarter

New York Technology giant Apple, which recorded 83 billion bones in profit for the third quarter ended June 2022, has reported a" near doubling" of profit in India.

publicizing fiscal results for its financial 2022 third quarter ended June 25, Apple on Thursday said it has achieved a profit record of$ 83 billion, over 2 per cent time-over-year.

Apple CEO Tim Cook, during an earnings call, said the 83 billion bone profit was" better than we anticipated despite force constraints, strong foreign exchange headwinds and the impact of our business in Russia".

" We set June quarter records in the Americas, in Europe and the rest of the Asia Pacific region. We also saw June quarter profit records in both developed and arising requests, with veritably strong double- number growth in Brazil, Indonesia and Vietnam and a near doubling of profit in India," he said.

Cook added that Apple continues to execute across some significant topographies where there is a veritably low penetration of the iPhone.

" Some of those were called out in the opening remarks between Indonesia and Vietnam and India, where we did relatively well, and iPhone tends to be the machine for those requests, particularly at the morning of creating the request there for Apple products. And so we are really looking at all of these effects from the installed base to the number of switchers to the geographic distribution."

Apple Chief Financial Officer and Senior Vice President Luca Maestri said that for the company, services had a June quarter profit record of$19.6 billion, over 12 per cent, despite impacts from its business in Russia and the macroeconomic terrain.

" We set June quarter profit records in both developed and arising requests and set each- time records in numerous countries around the world, including the US, Mexico, Brazil, Korea and India," Maestri said.

Maestri added that the record position of performance of the Services portfolio during the June quarter reflects the strength of Apple's ecosystem on numerous fronts, including that its installed base has continued to grow, reaching an each- time high across each geographic member and major product order.

" We also saw increased client engagement with our Services during the quarter. Our transacting accounts, paid accounts and accounts with paid subscriptions all grew double integers time-over-year." Cook said Apple saw" great enthusiasm" for its products and services, performing in an each- time record for its installed base of active bias.

" Our force constraints were lower than we anticipated at the morning of the quarter, coming in slightly below the range we bandied during our last call. We know that this is a time of significant challenge around the world for all of us defying new variants of Covid- 19, to those passing a prolonged philanthropic extremity in Ukraine and everyone dealing with the consequences of an uncertain profitable terrain," he noted.

Maestri said that in the enterprise request, Apple guests are decreasingly investing in Apple products as a strategy to attract and retain gift.

He cited the illustration of Indian transnational Wipro," another large global enterprise client", which is investing in" MacBook Air with M1 as a competitive advantage when retaining new graduates encyclopedically, thanks to its superior performance and lower total cost of power".