Apple posts record quarterly growth with over $95B revenue
What's the story
Apple has announced record quarterly growth for the quarter ending March 31, 2025. The tech giant reported a total revenue of $95.2 billion, achieving a year-on-year (YoY) growth of 5%. In the Asia Pacific region, excluding Greater China and Japan, Apple's revenue grew by 8.4% to $7.3 billion during the quarter. "We set a number of quarterly records in countries and regions across the world, including India," Apple CEO Tim said.
iPhone success
iPhone sales fuel growth
The tech giant's iPhone sales played a major role in its growth, with revenue from the segment jumping to $7.4 billion, a YoY growth of 6.6%. Shubham Singh, a Counterpoint research analyst, emphasized that Apple recorded its best-ever January-March performance in India during this period. He said shipments and revenue grew by 29% YoY and 30% YoY, respectively, reaching record highs.
Store expansion
Expanding retail presence in India
Cook has recently announced plans to open new retail stores in India later this year. Singh noted that Apple is leading the growing premium segment in India. He added that the company is expanding its retail footprint, making iPhones more accessible to smaller cities, which is further facilitating growth. This strategic move is likely to continue driving Apple's growth trajectory in 2025.
Supply chain management
Apple's supply chain optimization amid tariff impacts
Cook also spoke about the effect of tariffs on the company's business. He said the March quarter had a "limited impact" as Apple managed to optimize its supply chain and inventory. However, he also estimated that if the current tariff conditions continue, it could add $900 million in costs for the company.
Strategic shift
Focus on India amid challenges in China
Bharath Shenoy, Principal Analyst at IDC India, observed that Apple's focus has grown tremendously on India as it continues to struggle in China. To lure consumers and boost its share in the commercial segment, Apple has been providing discounts, cashbacks, and other offers. Shenoy highlighted that this approach is aimed at decreasing reliance on China.
Production move
Apple to shift iPhone assembly to India
Reports indicate that Apple intends to move the assembly of all US-sold iPhones to India as early as next year amid the ongoing trade war with China. As per IDC data, the total sell-in for iPhones in India stood at 12 million for 2024. Apple currently produces some 40-45 million iPhones in India for local consumption and exports outside India, accounting for some 18-20% of its global shipments in 2024.