Apple clocks All-Time Revenue Record In India; iPhone Upgrades, Mac, Services Clinch New Highs

Apple reported an all-time revenue high in India for the September quarter, alongside record performance in Mac and services revenue and a September-quarter high in terms of iPhone upgraders, reflecting strong momentum across its businesses in the country.

India emerged among standout markets for the Cupertino, California-headquartered tech titan, with several callouts in the September quarter performance. CEO John Ternus, during the company's earnings call, said Apple grew in the vast majority of markets it tracked, setting September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific.

"We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India," he said.

The company also recorded a September quarter high for iPhone upgrades in India, contributing to its best-ever fiscal year for upgraders globally.

Apple's global iPhone revenue rose 17 per cent year-on-year to USD 57.6 billion during the quarter, despite supply constraints and foreign exchange headwinds.

"We grew strong double digits in the US and greater China to achieve September quarter revenue records. We also set a September quarter record for upgraders worldwide as well as in the US, Mainland China, and India, helping to deliver our best fiscal year ever for upgraders globally," Ternus said.

On Apple Pay, he noted, "We recently launched in India with Axis Bank, bringing a seamless, safe, and secure way to pay in one of the biggest markets in the world".

Apple Pay is now available in over 90 markets, giving customers around the world peace of mind built into every transaction, he added.

Apple Chief Financial Officer Kevan Parekh said Mac revenue grew 24 per cent to USD 10.8 billion, with India and Southeast Asia registering all-time records.

Apple's services business also achieved an all-time revenue high in India, while global services revenue climbed 10 per cent to USD 31.6 billion.

"Services revenue set an all-time record of USD 31.6 billion, up 10 per cent year-over-year despite over 1.5 points of sequential FX headwinds. We set all-time revenue records in the majority of markets we track, including several emerging markets like Latin America and India," Parekh said.