When Apple releases its fiscal Q2 earnings report next month, the company’s dramatic expansion in India may be the highlight. According to Bloomberg, the important nation’s revenue has increased by roughly 50% over the past 12 months.
Apple Inc.’s sales in India hit a record high of around $6 billion in the year ending in March, indicating the market’s increasing importance to the tech giant. The revenue surged by more than 50% from the previous year’s $4.1 billion. An anonymous source with inside knowledge confirmed the information but preferred to keep it confidential. The boost in sales comes as CEO Tim Cook plans to establish Apple’s first local stores in India.
There is a tonne of space for Apple to expand here. Although inexpensive models have made up the majority of smartphone sales to date, this is increasingly changing. In the second-most populous nation in the world, the company’s market share was only 1% a few years ago.
The company’s growth goals include opening Apple Stores throughout the nation, and this is now taking place. Photos of the stunning new Apple BLK store, which will open in Mumbai tomorrow and Delhi two days later, were seen to the public today.