Apple’s Chief Executive Officer Tim Cook on Tuesday said that his company considered India to be a land of opportunities and that is why it was investing “tonne of energy on a number of fronts” here. He said the company has set a new record in India by registering double digit revenue growth in the quarter that ended in March.
However, Cook added that the growth can be even more, reported PTI. “Our growth rates are good, really good by most people’s expectations, maybe not mine as much,” he said. “And so we’re putting a lot of energy in, just like we have in other geographies that eventually wound up producing more and more. So I’m very excited about it.”
He attributed this growing surge to the “very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure”. He said India’s growth rate was very impressive, something he has not “seen in any other country in the world”.
The US tech giant is already strengthening its presence in India and is likely to start local assembly to manufacture of some of its devices from India soon, according to The Indian Express. However, the compnay has yet to reveal further details about the plan. Apple’s Senior Vice President (worldwide marketing) Phil Schiller was in India to open a developer centre last year.
Cook made these comments after Apple reported a surprise fall in iPhone sales for its second quarter on Tuesday, reported Reuters. The company sold 50.76 million iPhones in the second quarter that ended on April 1, a tad lower than 51.19 million a year ago.
This sent shares tumbling by 1.9% to $144.65 (around Rs 9276). However, the tech giant’s revenue grew marginally from $50.6 billion in April 2016 to $52.9 billion this year. Of this, international sales accounted for 65%.