Apple CEO Tim Cook has visited India several times during the company’s quarterly earnings call, specifically highlighting the country as an exciting market and opportunity for further expansion. The Cupertino-based tech giant has been investing heavily in India in recent years. Cook also said the company posted strong double-digit growth numbers in March, setting a quarterly sales record domestically. Separately, he also hinted at Apple’s expansion plans to further consolidate its presence in the Indian market.
Tim Cook’s comments came during a shareholder call to discuss the company’s performance in the second quarter of its fiscal year (in the U.S., the fiscal year begins on October 1 and ends on September 30). Apple’s overall revenue reportedly fell 4% year-on-year, but continued to post strong numbers in India and several other regional markets. “We were very excited,” Cook said of the development.
“You know, like I said before, I see it. [India] It’s an incredibly exciting market and it’s a key focus for us. “From an operational perspective or a supply chain perspective, we produce there, and from a practical standpoint, to be competitive, we need to produce there,” he added.
Notably, Apple started contract manufacturing in India in 2017, but this was only for entry-level and legacy devices. In 2021-22, the tech giant has started iPhone 14 production in India through Foxconn’s Tamil Nadu plant. According to a report by Bloomberg, production in India has increased significantly for the iPhone 15 and iPhone 15 Plus products, assembling about 14% of the company’s total manufactured products, or about one in seven iPhone units.
Regarding this, Apple CEO said: “We are working on both operational issues. [in India] We are moving forward with our go-to-market and other plans. We opened a few stores last year and saw a huge opportunity there.” Cook also confirmed that the company is working to build a domestic developer ecosystem, which he claims is already growing rapidly. “We are working on the entire ecosystem, from developers to markets to operations. And I couldn’t be more excited and passionate about it.”
While announcing Apple’s sustainability approach, the CEO also mentioned India. He said the company will save billions of gallons of water over the next 20 years by working with domestic partners to replenish 100 percent of the water used in its production process.
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