In India, business is still quite low relative to size of opportunity: Tim Cook

Apple’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, said Apple CEO Tim Cook.

”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 recently at the company’s Q1 2021 results earnings call.

Answering a question on Apple’s efforts in the Indian market where it has a low share, Cook replied.” There are several markets, as I alluded to before. India is one of those countries where our share is quite low. It did improve from the year-ago quarter. Our business roughly doubled over that period of time. And so we feel very good about the trajectory. He said Apple is doing a number of things in the area.”

We put the online store there, for example, and last quarter was the first full quarter of the online store. And that has gotten a great reaction to it and has helped us achieve the results that we got to last quarter,” Cook added.

”We’re also going in there with retail stores in the future. And so we look for that to be another great initiative and we continue to develop the channel as well. And so there’s lots of things, not only in India but in several of the other markets that you might name where our share is lower than we would like,” he said.

Cook added that even in the developed markets, everybody doesn’t have an iPhone not even close. And so, we really don’t have a significant share in any market. So, there’s headroom left even in those developed markets where you might hear that.

Apple declared the financial results for its fiscal 2021 first quarter ended December 26, 2020. The company posted all-time record revenue of USD 111.4 billion, up 21 per cent year over year. International sales accounted for 64 per cent of the quarter’s revenue.