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The sanctions package also targets multiple senior officers of the Islamic Revolutionary Guard Corps (IRGC), along with Iranian investor Babak Morteza Zanjani, who is accused of having "embezzled billions in funds from the Iranian people." The United States on Friday imposed fresh sanctions on
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Apple's Cook says iPhone star ingredient of India success recipe
Apple's chief executive officer Tim Cook Friday told the global investing community that December was a "terrific quarter" for the company in India, underscoring the revenue centrality of Asia's no 2 economy that's already the biggest iPhone manufacturing base after China for the consumer-technology icon.
Cook's remarks on Apple's standout performance came during his post-earnings analysts' interaction, where he told his audience that the company has created fresh Indian revenue records.
Records have been created both in aggregate and individual category sales of the iPhone, Mac, iPad and services. "We really like what we see there (India). It is the second-largest smartphone market in the world. And the fourth-largest PC market," Cook told global analysts, illustrating the eye-popping revenue potential of an economy that continues to hurdle global trade barriers to expand more than twice as fast as the world average.
Cook said Apple is continuing to gain momentum in emerging markets including India where sales grew at "strong double-digit" pace.
Furthermore, he told analysts the majority of customers that are buying the company's products in India are all new to that product. "And so, it speaks very well to the opportunity there," Cook said. He said that after opening the company's fifth store in India last month, Apple plans to open another exclusive outlet in Mumbai soon.
As per market tracker Counterpoint Research, Apple in 2025 had clocked its highest ever smartphone market share in India-both in volume (9%) and value (28%). It said the iPhone 16 was the top-selling model in the country last year.
ETtech 'Not resting on laurels'
To be sure, Apple is seeking to boost its share further as Indians increasingly gravitate toward quality, with the iPhone becoming as much a necessity as a style statement for its upwardly mobile urban consumers.
"Despite a very nice growth history, we have a modest share there," Cook told analysts. "So, we think there is a huge opportunity for us there. And we could not be more excited about it."
Apple's chief financial officer Kevan Parekh said there is a "strong double-digit growth" in the installed base in India, which is "really encouraging". He said the iPhone active installed base climbed to an all-time high and set new records for upgraders in aggregate and across many countries, including the US, Mainland China, Japan, and India.
Counterpoint's research director Tarun Pathak said the Apple ecosystem strength will gain as the all-time high installed base in India is now ripe for cross-selling. "We are seeing a clear 'halo effect' as services, Mac and iPad all posted record quarters. Strong product and channel strength is helping Apple to reach its aspirational user base faster than ever before," said Pathak.
Source: EconomicTimes
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