Apple has recorded a strong double-digit growth in India driven by iPhone sales and CEO Tim Cook remains bullish on growth prospects in the country, with sales in the US under pressure.

“We did hit a June quarter revenue record in India, and we grew strong double digits. We also opened our first two retail stores during the quarter and of course it’s early going currently, but they are beating our expectations in terms of how they are doing. We continue to work on building out the channel and putting more investment into our direct to consumer offers as well,” Cook told analysts at the third quarter earnings call of the company.

“If you look at it, it’s the second-largest smartphone market in the world, and we ought to be doing really well there, and we are really pleased with our growth there.

“We still have a very, very modest and low share in this smartphone market. So I think it is a huge opportunity for us, and we are putting in all of our energies in making that occur,” Cook said.

Besides India, Apple has reported strong results in emerging markets including Indonesia, Mexico, Philippines, Poland, Saudi Arabia, Turkey and the UAE.

Apple does not give out a country-wise split of revenue and units sold.

However, net sales by reportable segments show a year-on-year decline in the Americas, with improvements in Europe and Greater China. The emerging market side of the European segment would include India and West Asia besides central and eastern European countries.

According to CyberMedia Research, Apple has captured 5 per cent market share in the smartphone market in Q2 2023, recording a year-on-year increase of 62 per cent in shipments.

Apple was the top contributor in the premium segment (greater than Rs 25,000) with 25 per cent share.

The Cupertino-headquartered company has posted a quarterly revenue of $81.8 billion, down 1 per cent year-over-year and quarterly earnings per diluted share of $1.26, up 5 per cent year-over-year.

“Our June quarter year-over-year business performance improved from the March quarter, and our installed base of active devices reached an all-time high in every geographic segment,” said Luca Maestri, Apple’s CFO.

“During the quarter we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans,” Maestri said.