Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
Prime Minister Narendra Modi said on Friday that the combination of technology and talent will be a guarantee for a bright future for the world.
Technology major Apple earned nearly one-third of its revenue from emerging markets and doubled its business in India and Vietnam in fiscal 2021, according to its CEO Tim Cook said. Apple posted a 29 per cent year-on-year growth in revenue at $83.4 billion in the fourth quarter ended September 25, 2021. Its net income stood at $20.55 billion in the said quarter as against $12.67 billion in the year-ago period.
'If they are taking marquee locations and, say, are paying 50 per cent higher rent, those locations will see a spurt in rates as well.'
Technology giant Apple, which recorded $83 billion in revenue for the quarter ended June 2022, has reported a "near doubling" of revenue in India. Announcing financial results for its fiscal 2022 quarter ended June 25, Apple on Thursday said it has achieved a revenue record of $83 billion, up 2 per cent year-over-year. Apple CEO Tim Cook, during an earnings call, said the 83 billion dollar revenue was "better than we expected despite supply constraints, strong foreign exchange headwinds and the impact of our business in Russia."
Glimpses of India's first Apple retail store that will be launched on April 18, 2023 at the Jio World Drive Mall, Bandra Kurla Complex, north west Mumbai.
Apple unveiled the latest high-end ultra-thin MacBook Air laptop on Wednesday.
During the year, the company extended its leadership in the smartphone market.
Industry leaders urge India to pursue diplomatic talks with the US, strengthen manufacturing, and consider China ties to gain leverage against tariff pressures.
The CEOs of four tech giants -- Amazon, Apple, Facebook and Google -- appeared before the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law on Wednesday to address concerns that their businesses may be harming competition.
India has become the world's fourth largest economy, overtaking Japan, according to NITI Aayog CEO B V R Subrahmanyam. He cited IMF data, stating that India's economy is now larger than Japan's, with a USD 4 trillion GDP. Subrahmanyam also highlighted the favorable geopolitical and economic environment for India, predicting that within 2.5-3 years, India will become the third largest economy.
'Given the proportion of the global leak, it is very likely that the data of Indian citizens might be on the dataset.'
Priced at $499, the iPad lets users browse the web, send emails, share photos, watch HD videos, listen to music, play games, read ebooks using iPad's multi-touch user interface.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
In comparison to Nadella, Apple CEO Tim Cook got a pay of $ 15.7 million in 2018 with $ 3 million in salary. Google CEO Sundar Pichai received $ 1.9 million in overall compensation.
The Apple 'Far Out' event, which was one of the most anticipated tech events of the year, finally happened on Wednesday, bringing new gadgets galore including new iPhones, new watches and new AirPods. However, for those who missed it, worry not, here's the roundup.
The Trump administration has announced a massive increase in H-1B visa fees, imposing a $100,000 annual charge that will fundamentally alter how American companies hire skilled foreign workers, particularly impacting Indian IT professionals who comprise the largest group of beneficiaries.
Apple Inc. may have to pay hundreds of millions of dollars in royalties to Cisco Systems for the coveted iPhone trademark, industry experts believe.
Apple CEO Tim Cook has said the company's share in India "is quite low relative to the size of the opportunity" and setting up retail stores in the future in the country will be a great initiative. Apple launched the Apple Store online in India on September 23, offering Apple's full range of products and support directly to customers across the country for the first time. "If you take India as an example, we doubled our business last quarter compared to the year ago quarter. But our absolute level of business there is still quite low relative to the size of the opportunity. "And you can kind of take that and go around the world and find other markets that are like that as well," Cook said on Wednesday in the company's Q1 2021 results earnings call.
Hitesh Harisinghani/Rediff.com was present when Apple CEO Tim Cook opened India's first Apple store at the Bandra Kurla Complex, north west Mumbai, on Tuesday, April 18, 2023.
Apple Inc has sold over 3,00,000 iPads in the United States on its first day of sale and the IT giant's CEO Steve Jobs termed the new product as a 'game changer'.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
Apple's stock rose 5.89 per cent to a record-high close of $201.50 on Wednesday following the company's better-than-expected quarterly results.
Apple CEO Tim Cook enjoyed a game of badminton with Saina Nehwal, Chirag Shetty, Srikanth Kidambi and Parupalli Kashyap.
Leading Republican presidential candidate Ted Cruz supported the FBI on the issue.
"We are investing in India... We've already launched an app accelerator centre. That's on top of working with the channel and looking at expanding our go-to-market in general," Cook said during the company's third quarter earnings call on Tuesday.
'In the next 14 years, 100% of US energy will be clean and solar.'
Former US President Obama was featured wearing a number of ensembles some gladiator-inspired and a basketball one among others.
According to research firm Counterpoint, Apple was one of the fastest-growing brands in India during the December quarter. This was driven by multiple price cuts on its XR device, thanks to local manufacturing in India, it had said. It added that the rollout of new iPhones (11 series), aggressive pricing and a good channel strategy was helping Apple gain market share in India.
President-elect Donald Trump promised his supporters and countrymen that he will act at historic speed to fix every single crisis facing the United States, on the eve of his inauguration. Trump told his supporters at the Capitol One Arena, which was full to its capacity of 20,000 for a 'Make America Great' victory celebration, that he will act with "historic speed and strength" and fix "every single crisis facing our country." He also outlined some of his plans for his first day in office, including halting the "invasion" of the US border and restoring border security measures, which he said will be the most "aggressive, sweeping efforts to restore our borders the world has ever seen."
Apple has been continually updating and adding new features to Maps including 3D views.
The Apple Watch may cost well over Rs 30,000 for the base model.
Apple on Tuesday launched the iPod mini, the smallest portable music player ever to hold up to 1,000 CD-quality songs, in India.
Apple unveiled its highly anticipated iPhone 14 during its 'Far Out' event on Wednesday along with the iPhone 14 Plus variant, the iPhone 14 Pro and Pro Max. This new lineup is inspired by the iPhone 13, with sharp metal edges, rounded corners, a glass back, the recognisable notch at the top of the handset, and a lightning port.
The launch of premium devices from OnePlus and Samsung in the second half of Apple's reporting period added to Apple's woes.
The new online store, which will be launched on September 23, will provide customers with the same premium experience found in Apple Store locations around the world, delivered by online team members who are ready to offer their expertise, Apple said in a statement.
The US-based company, in collaboration with partners like Wistron and Foxconn, had recently started assembling iPhone 11 in India.
Tech giant Apple is expected to unveil a larger screen version of its popular iPhone along with its first smartwatch on September 9 in its hometown in Cupertino, California.
While Modi was given this t-shirt by Biden, Microsoft CEO Satya Nadella, Chairman of Mahindra Group, Anand Mahindra, Apple CEO Tim Cook and External Affairs Minister S Jaishankar could be seen at the event, amongst many others.
The Indian Finance Ministry has instructed its officials to refrain from using AI tools and apps like ChatGPT and DeepSeek on government devices, citing concerns over data confidentiality. This move comes amidst global discussions regarding the potential security risks associated with AI tools and follows similar actions by countries like Australia and Italy, which have restricted access to DeepSeek due to privacy concerns. The directive highlights the growing awareness of the potential security implications of AI technology in government environments.
