Apple reported their quarterly results for Q4’22 yesterday and the folks at Six Colors have published their transcript of the call that Tim Cook and Luca Maestri have with analysts.
During the call, Apple mentioned that the company saw double-digit grown in India and iPhone growth was “impressive”.
iPhone Revenue grew 10% year over year to a September quarter record of 42.6 billion despite significant foreign exchange headwinds. We set September quarter records in the vast majority of markets we track, and our performance was particularly impressive in several large emerging markets with India setting a new all-time revenue record and Thailand, Vietnam, Indonesia, and Mexico more than doubling year over year. Thanks to our strong iPhone lineup, we set a quarterly record for upgraders and grew switchers double digits. This level of sales performance, along with unmatched customer loyalty, drove the active installed base of iPhones to a new all time high across all geographic segments.
No surprises here. The iPhone continues to get more expensive in India, yet more people continue to buy it every year.