Apple Posts Record $124.3B Quarter, Announces Retail Expansion In India

Apple on Friday announced quarterly revenue of $124.3 billion, a 4 per cent increase compared to the same period in the previous year, during the fiscal 2025 first quarter (Q1) that ended December 28, 2024. This establishes a new record for quarterly revenue in the iPhone maker's history.

iPhone Top Selling Model In India For The Quarter: Cook

"Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 per cent from a year ago. We were thrilled to bring customers our best-ever lineup of products and services during the holiday season," Apple's Chief Executive Officer Tim Cook, said in a statement.

“As you know from past calls, (we are) particularly keen on India. The iPhone was the top selling model in India for the quarter," Cook added.

In the earnings call, Cook discussed the company's strategic initiatives regarding artificial intelligence (AI). He announced plans to expand the availability of Apple Intelligence features to compatible devices across additional markets, underscoring the company's increased focus on AI technology integration.

Cook also presented positive performance metrics from emerging markets, noting significant revenue expansion in several key regions. Specifically, Cook said that Apple achieved growth exceeding ten per cent in multiple developing economies, including Brazil, Mexico, and India.

"Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we’re excited that Apple Intelligence will be available in even more languages this April," Cook noted.

More Apple Stores In India

As per the company CEO, the tech giant plans to opening more stores in India. The iPhone maker has already announced that it is going to open four new stores in Bengaluru, Pune, and Delhi-NCR and it will add one more outlet in Mumbai. Cook noted that iPhone was the top-selling model in India for the quarter.

“Our business needs certain economies of scale for it to make sense to manufacture in the country,” Cook said about the supply chain in India.