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

India jewellery

The US accounts for nearly £7.6 billion, or 30.4 per cent, of India’s annual gems and jewellery exports.(Photo: Reuters)

Reuters

India’s jewellery exports face decline as US tariffs hit

INDIA’s £24 billion gems and jewellery industry is preparing for a sharp decline in exports as the US imposes a 26 per cent tariff on Indian goods.

Industry officials said this would significantly affect sales to the US, India’s largest jewellery market.

Keep ReadingShow less
ronnie screwvala

Ronnie Screwvala’s rise to billionaire status is an inspiring story of vision

Getty

Ronnie Screwvala: From toothbrush seller to Bollywood's lone billionaire

The 2025 edition of the Forbes Billionaire List was released on Wednesday morning, showcasing the world's wealthiest individuals. The list features 3,028 billionaires globally, including 205 from India. Among these is Bollywood's only billionaire, Ronnie Screwvala, a media mogul whose journey from manufacturing toothbrushes to becoming a leading entrepreneur is nothing short of remarkable. With a net worth of $1.5 billion, Screwvala has surpassed the combined fortunes of Bollywood’s biggest stars, including Shah Rukh Khan, Salman Khan, and Aamir Khan.

Bollywood’s wealthiest man

Ronnie Screwvala stands as the richest person from the Hindi film industry, with a fortune exceeding that of its biggest icons. According to Forbes, his net worth of $1.5 billion surpasses the combined wealth of Shah Rukh Khan ($770 million), Salman Khan ($390 million), and Aamir Khan ($220 million), whose total stands at $1.38 billion. Additionally, he eclipses other notable figures such as Gulshan Kumar (approximately $900 million) and Aditya Chopra ($800 million). His financial success is a testament to his entrepreneurial acumen and strategic investments in both entertainment and education sectors.

Keep ReadingShow less
Donald Trump

Trump announced a series of tariff increases targeting various nations, including key US allies such as the UK and the European Union.

Getty Images

Trump’s tariffs hit global markets, Starmer warns of 'economic impact'

The UK and other global economies reacted on Thursday to US president Donald Trump's newly imposed tariffs, with prime minister Keir Starmer warning of an “economic impact” from the 10 per cent levy on British exports.

Trump announced a series of tariff increases targeting various nations, including key US allies such as the UK and the European Union.

Keep ReadingShow less
Airbus bets on Indian supply
base to scale up production

Guillaume Faury

Airbus bets on Indian supply base to scale up production

AIRCRAFT maker Airbus plans to significantly ramp up its annual sourcing of components and services from India to reach $2 billion (£1.54bn) by 2030, its CEO Guillaume Faury has said.

Describing India as one of the most important markets for Airbus in terms of growth, Faury said the challenge for the aircraft maker is to support the speed of the growth of the aviation industry in India.

Keep ReadingShow less
nintendo switch 2

The new console aims to build upon the success of its predecessor while introducing fresh innovations

Getty

Nintendo unveils Switch 2 - A new era for hybrid gaming begins

After months of speculation and cryptic teaser campaigns, Nintendo has officially announced the highly anticipated successor to its bestselling hybrid console. The Nintendo Switch 2 is set to launch on 5 June, with a price tag of £395.99 for the base package and £429.99 for a bundle including Mario Kart World. With a range of hardware improvements, redesigned controllers, and an exciting lineup of games, the new console aims to build upon the success of its predecessor while introducing fresh innovations.

A Bigger, Sharper Display and 4K Support

One of the most noticeable upgrades in the Nintendo Switch 2 is its display. The console now features a larger 7.9-inch screen, boasting twice the pixel count of the original Switch and supporting full 1080p resolution. Additionally, the display is capable of up to 120 frames per second, ensuring smoother animations, while high dynamic range (HDR) enhances colour contrast for a richer visual experience. Despite these improvements, the Switch 2 maintains the same thickness as the original model, preserving its signature portable form factor.

Keep ReadingShow less