Tim Cook Assures More Money, Energy For Apple In India

Tim Cook Assures More Money, Energy For Apple In India

Tim Cook Assures More Money, Energy For Apple In India

"With revenue up 7% year-over-year, we're happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue", said Apple CEO Tim Cook, as cited in a company press release. "I'm very, very bullish and very, very optimistic about India", he said.

Apple is now investing in India and launched an app accelerator center in Bengaluru this past May as a place for developers to get help from Apple's team in India.

We reported unit and revenue growth in all our product categories in the June quarter, driving 17% growth in earnings per share. He continued further "And so we're bringing all of our energies to bear there.And so I'm very, very bullish and very, very optimistic about India".

Cook said he finds several similarities between where the Indian market is now and where China was several years ago.

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Apple's iPhone SE manufacturing facility is located in Bengaluru and it has not commenced its operations in full fledge.

Indian authorities have offered tax concessions for the work encouraging more local components to be used over time. However, progress has been slow due to India's unwillingness to grant subsidies just to Apple and the government is looking at a policy that can attract all smartphone makers to manufacture their devices here.

Cook mentioned that smartphone vendor had generated 740,000 jobs in India through its "app economy" and Indian developers has generated almost 100,000 apps for the App Store, the person said. We do have a large project going and are making a big investment in this.

Apple's game plan is to turn India into the next China, not only in sales but also manufacturing and exports.

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