Apple has achieved remarkable growth in India, with the iPhone emerging as the top-selling model in the country for the October-December 2024 period. This announcement was made by Apple CFO Kevan Parekh after the company posted strong results for its Q1. Kevan Parekh expressed the company’s growing confidence in India, highlighting that the country’s market has proven crucial to Apple’s ongoing success, particularly in emerging markets.
Kevan Parekh’s remarks came during an analyst call following the announcement of Apple’s quarterly financial results, where the company reported its best-ever quarter, with revenue reaching $124.3 billion, marking a 4 percent increase year-over-year. He specifically pointed out the performance in India, noting that the country had set a December-quarter growth record. Apple’s sustained efforts to strengthen its presence in India are reflected in its expanding retail footprint, with the company planning to open four new stores in the country in the near future.
Apple’s success in India is part of a broader trend of positive results in emerging markets. Kevan Parekh emphasized India’s importance, saying, “As you know from past calls, we are particularly keen on India. India set a December-quarter record during the quarter, and we’re opening more stores there.”
India, which is the second-largest smartphone market in the world and the third-largest for PCs and tablets, is a key growth region for Apple. Despite its modest market share in these categories, Apple sees significant growth potential in India, and the company remains optimistic about increasing its presence in the country. Kevan Parekh acknowledged that while Apple’s market share is still relatively small, the upside in these emerging markets, particularly India, is substantial.
The announcement also comes on the back of the company’s achievement of a record high for the iPhone’s active install base. This milestone reflects Apple’s increasing customer loyalty, as the company saw a surge in upgraders during the December quarter. According to a recent survey from Kantar, the iPhone was the top-selling model not only in India but also in other major markets such as the United States, urban China, the UK, France, Australia, and Japan.
In addition to its performance in the smartphone market, Apple’s collaboration with Indian companies such as Zomato also underscores its growing influence in the country. Zomato, the leading food delivery company in India, has deployed thousands of Macs across its workforce to encourage innovation. This move highlights the increasing integration of Apple products into India’s rapidly expanding digital economy.
Looking ahead, Apple continues to make significant strides in expanding its influence in India and other emerging markets. The company is also making advancements in the development of Apple Intelligence, which is expected to enhance user experiences across its devices and services. Apple Intelligence, which utilizes the power of Apple Silicon, is set to launch in more languages, including Hindi, in April 2025, marking a further step toward meeting the needs of Indian consumers.
Apple’s record-breaking growth in India highlights the company’s strategy of strengthening its foothold in emerging markets and further demonstrates India’s importance as a key player in the global smartphone and tech ecosystem. With its new retail stores and expanding presence, Apple is positioning itself to capitalize on India’s dynamic and rapidly evolving market for years to come.
