I'm very, very bullish and very, very optimistic about India: Tim Cook in Apple's Q3 earnings call

Apple's outlook for India in the quarter 3 (Q3) earnings call was pretty similar to the previous quarter. Apple did not bring up India during its pre-recorded statement, which indicates that there were no records broken during this quarter. Revenue from India grew in double digits in the March quarter, which was a record for Apple. An analyst from Drexel, Brian White, specifically asked about India, and the future prospects for Apple considering that smartphone markets had stopped growing aggressively.

File image of Apple CEO Tim Cook. Reuters

File image of Apple CEO Tim Cook. Reuters

Tim Cook indicated that he saw India now in the same place where China was a few years ago, and was optimistic in his outlook over the future of Apple in India. Tim Cook said, "We are investing in India. As you mentioned in your second point, we've already launched an app accelerator center. That's on top of working with the channel and looking at expanding our go-to-market in general. And we began to produce the iPhone SE there during the quarter, and we're really happy with how that's going. And so we're bringing all of our energies to bear there. I see a lot of similarities to where China was several years ago. And so I'm very, very bullish and very, very optimistic about India."

Despite the relatively low cost of the device, the Indian market has not responded very well to the iPhone SE. The aggressive rollout of 4G services in 2016 cleared one of the biggest roadblocks for adoption of Apple devices in India, according to Tim Cook. Apple has posted the report on its website and a recording of the call will be up for two weeks. Seeking Alpha has a transcript of the entire call.

 


Published Date: Aug 02, 2017 09:50 am | Updated Date: Aug 02, 2017 09:50 am