Apple CEO Tim Cook praises India's potential in Q2 earnings call
text_fields
Apple CEO Tim Cook (file photo)
During Apple's quarterly earnings call, CEO Tim Cook expressed enthusiasm about India's market potential and the company's robust performance in the region.
Cook highlighted India as a key focus area for Apple's expansion efforts, noting significant growth and a revenue record achieved in the second fiscal quarter ending in March.
Cook emphasized India's importance, stating, "I see it [India] as an incredibly exciting market and it's a major focus for us." He acknowledged the necessity of local production for competitiveness, indicating Apple's operational and supply chain activities in the country.
Apple commenced contract manufacturing in India in 2017, initially focusing on entry-level and legacy devices.
In recent years, the company expanded its production capabilities, including the manufacturing of iPhone 14 units at Foxconn's Tamil Nadu plant. Cook noted the substantial growth in India's production output, with the assembly of iPhone 15 and iPhone 15 Plus units accounting for a significant portion of Apple's total manufactured units.
Regarding market expansion, Cook mentioned the opening of new stores in India and underscored the vast opportunities present in the country. He highlighted Apple's efforts to cultivate a developer ecosystem, emphasizing rapid growth in this domain. Cook expressed his excitement about India's potential across various aspects of Apple's operations, from development to market outreach.
Additionally, Cook highlighted Apple's sustainability initiatives in India, particularly focusing on water replenishment efforts in collaboration with local partners. He emphasized the company's commitment to replenish 100 percent of the water used in the production process, contributing to significant water savings over the next two decades.
