Skip to content
Search

Latest Stories

Apple reports record-breaking revenue growth in India

June quarter results show 7.8 per cent rise in net income and 4.8 per cent increase in sales

Apple reports record-breaking revenue growth in India

APPLE, the maker of the iPhone, experienced record revenue growth in India and more than two dozen other countries during the quarter ending on June 30, 2024, according to CEO Tim Cook's announcement on Friday (2).

In the June 2024 quarter, Apple reported a 7.8 per cent increase in net income, reaching $21.44 billion (£16.82bn), compared to $19.8bn (£15,53bn) in the same period last year.


The company's total net sales grew by 4.8 per cent, amounting to $85.77bn (£67.29bn), up from $81.79bn (£64,11bn) in the June quarter of 2023.

"Apple is reporting a new June quarter revenue record of $85.8bn (£67,25bn), up 5 per cent from a year ago and better than we had expected. We also set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand," Apple CEO Tim Cook said during the company's earning call.  

The revenue of Apple from 'Rest of Asia Pacific' geography, which includes India, Indonesia, the Philippines, and Thailand, grew by $760 million (£595.63m) in the June quarter compared to the year-ago period.       

Apple's iPhone sales declined by about a per cent to $39.29bn (£30.79bn) during the reported quarter from $39.66bn (£31,08bn) a year ago.  

Apple Mac sales grew 2.4 per cent to over 7 billion from $6.8bn (£5.32bn) and iPad sales were up 24 per cent to $7.16bn (£5,61bn) from $5.8bn (£4.54bn) on a YoY basis. 

"Mac generated $7bn (£5.48bn) in revenue, up 2 per cent YoY, driven by the MacBook Air powered by the M3 chip. We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia," Apple Chief Financial Officer Luca Maestri said.   

He said Mac installed base reached an all-time high with half of MacBook Air customers in the quarter being new to Mac.        

Apple's Wearables, Home and Accessories sales declined about 2 per cent to $8bn (£6.26bn) from $8.28bn (£6.48bn) a year ago. (PTI)

More For You

Trump’s Promise: TikTok Deal Before April 5 to Avoid Ban

This is not the first time that TikTok has been under scrutiny in the United States

Getty

Trump promises TikTok deal before April 5 to prevent ban

As the clock ticks towards the April 5 deadline, the future of TikTok in the United States remains uncertain, with President Donald Trump promising that a deal to resolve the app's ongoing issues will be struck before the deadline. The central issue at hand is whether TikTok's parent company, ByteDance, will be forced to divest the popular social media platform or face a ban in the U.S.

In a statement made aboard Air Force One late on Sunday, Trump confirmed that there was "tremendous interest" from potential buyers looking to acquire TikTok. He expressed his desire for the platform to "remain alive" and emphasized that multiple buyers were keen on striking a deal, suggesting that a solution would be reached before the deadline.

Keep ReadingShow less
Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less