Apple sets new revenue record in India, Mac sales hit a high

Apple India

Apple announced its quarterly results for its fiscal 2024 third quarter ending on June 29. The company posted quarterly revenue of $85.8 billion, up 5 percent year over year. During an investors call, Apple CEO Tim Cook revealed that the company set a new revenue record in more than two dozen countries, including India. “We also set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand,” Cook said.

Furthermore, Apple CEO Luca Maestri also revealed that revenue from Mac devices was up 2% year-over-year. “We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia,” he said. The Mac revenue, as per Maestri, was driven by the M3-powered MacBook Air.

Breaking down the quarterly revenues, Apple revealed that iPhone sales totalled $39.30 billion, slightly down 0.94% year-over-year. With the iPhone 16 series set to launch later in September, it was expected that the revenue from iPhone would slightly drop. Historically, iPhone revenue in the third quarter is comparatively low for Apple.

In contrast, Mac sales climbed 2.46% to $7.01 billion, and iPad sales surged 23.63% to $7.16 billion. This is a turnaround as in the previous quarter both Mac and the iPad revenue was down.

Apple Watch and AirPods seem to be doing not so well as the Wearables, Home, and Accessories category generated $8.10 billion, representing a 2.26% decline.

However, Services revenue continued to expand, reaching $24.21 billion, a 14.14% increase compared to the previous year. Cook revealed that this was an all-time revenue record.