Tim Cook attributed growing interest in India on the expanding 4G LTE ecosystem.
Apple CEO Tim Cook on Tuesday reiterated that his company looked at India as a huge opportunity and that is why it was putting “so much energy” there. Answering questions in the second quarter earnings call, Cook said Apple has been investing quite a bit in India and have a “tonne of energy going into the country on a number of fronts”.
Cook, who was in India last year, said he agreed that Apple was “underpenetrated” in the market. The Apple, who earlier listed India among the markets where it was registering growth rates of over 20 per cent, said they had set a new March quarter record for India, where revenue grew by strong double digits. He said Apple continued to strengthen its local presence “across the entire ecosystem” and was “very optimistic” about its future in India which he called a “remarkable country” with its “very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure”.
“Our growth rates are good, really good by most people’s expectations, maybe not mine as much. And so we’re putting a lot of energy in, just like we have in other geographies that eventually wound up producing more and more. So I’m very excited about it.”
Apple is expected to start local assembly or manufacture of some of its devices from India in the near future, though specifics are still not available. In early April, Apple inaugurated its first developer centre in Bangalore with senior vice president of worldwide marketing Phil Schiller meeting local developers at the centre.
Answering another question, Cook said Apple thought India was a “great opportunity” and was hence “bringing all the things that we brought to bear in other markets that we’ve eventually done well in”. He said this included everything from “channel to stores to our ecosystem and so forth”.
Cook continued to attribute a lot of the growing interest in India on the expanding 4G LTE ecosystem. He said India is moving at a speed he has not “seen in any other country in the world” and it is truly impressive.