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Apple has yet again recorded stellar growth during its June quarter led by strong growth in emerging markets including India.
The tech giant posted a revenue of $81.4 billion, up 36 per cent over last year during Q3 2021. “Today, Apple is reporting a very strong quarter with double digit revenue growth across our product and services categories and in every geographic segment," said Apple CEO Tim Cook during the earnings call while speaking with analysts. “We set a new June quarter revenue record of $81.4 billion, up 36% from last year, and the vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India, Latin America and Vietnam,” Cook said.
Growth in emerging markets
Furthermore, the tech giant also set June quarter records in multiple markets including India for iPhones. iPhone revenue set a June quarter record of $39.6 billion, growing 50 per cent YoY, Cook said. “We had an incredible quarter for the emerging markets in Q3. We set June quarter records in Mexico, Brazil, Chile, Turkey, UAE, Poland, Czech Republic, India, obviously in China as I talked about before, Thailand, Malaysia, Vietnam, Cambodia, Indonesia," he said.
“Those results are for the entire line of products that we have. And keep in mind, we still do have SE in the line. We launched it a year ago, but it's still in the line today and is sort of our entry price point. And so I’m pleased with how all of them are doing and I think we need sort of that range of price points to accommodate the types of people that we want to accommodate. And so we’ve got something for the entry buyer who really wants to get into an iPhone and then something for the pro buyer who wants the very best iPhone that they can buy,” he added.
Also read: Apple releases iOS 14.7.1 update with fix for Apple Watch unlocking issue, important security update
The active installed base of iPhones also hit a new all-time high during the quarter. “Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO.
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