Apple India Dec qtr revenue hits record high on strong iPhone sales
Apple posted qtrly revenue of $119.6 bn, up 2 per cent y-o-y, and its installed base of active devices has now surpassed 2.2 bn
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New Delhi: iPhone maker Apple's revenue grew in double-digits and hit a new record in the December 2023 quarter on strong iPhone sales, a top official of the company said on Friday.
"India grew in revenue terms, grew strong double-digits in the December quarter and hit a revenue record," Apple CEO Tim Cook said during Apple's earnings call. Apple posted quarterly revenue of $119.6 billion, up 2 per cent year-over-year, and its installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments.
The company's revenue from iPhone grew by about 6 per cent to $69.7 billion in the reported quarter, from $65.77 billion. The company saw all-time high revenues in other emerging markets as well including Malaysia, Mexico, the Philippines, Poland and Turkey, Indonesia, Saudi Arabia etc, Cook added.
According to market research firm Counterpoint Research, Apple led the India market with the highest revenue in 2023 for the first time, while Samsung topped the chart in terms of volume sales.
The firm in its recent report said Apple surpassed the 10-million-unit mark in shipments and captured the top position in revenue in a calendar year for the first time.
Sales of iPads declined by about 25 per cent to around $7 billion in the December 2023 quarter.
The wearable, home and accessories segment of Apple declined by close to 11 per cent to $11.95 billion in the reported quarter, from $13.48 billion in the year-ago period.
Sales of Mac PCs remained almost flat at $7.7 billion on a year-over-year basis. The services revenue of Apple increased by 11.3 per cent to $23.11 billion in the December 2023 quarter, from $20.76 billion a year ago. For the year ended September 30, 2023, Apple's net income declined by 2.8 per cent to $96.99 billion, from $99.8 billion in the year-ago period.
The annual revenue of the iPhone maker also declined by 2.8 per cent to 383.28 billion in the fiscal year ended September 30, 2023, from $394.32 billion in FY 2022. The annual iPhone sales declined by 2.3 per cent to $200.5 billion during the reported year, from $205.48 billion in the previous fiscal.
Annual sales of Mac PCs declined by about 27 per cent to $29.35 billion, from $40.17 billion and iPad by 3.3 per cent to $28.3 billion on a year-over-year basis.
Apple's Wearables, home and accessories annual sales also fell by 3.3 per cent to $39.84 billion, from $41.24 billion a year ago. The services revenue of Apple increased by 9 per cent to $85.2 billion in FY'23, from $78.12 billion in FY'22.
