Tim Cook on India during Apple’s Q1 2017 Earnings Call

Apple had their quarterly earnings call yesterday where they announced record first quarter results. The company posted all-time record quarterly revenue of $78.4 billion (compared to $75.9 billion in Q1 2016) and all-time record quarterly earnings per diluted share of $3.36 (compared to $3.28 in Q1 2016).

iPhone and Mac sales and revenue are up, whereas iPad sales and revenue is down compared to the year-ago quarter. Revenue from Apple’s Services business and from Other Products (includes Apple Watch and Apple TV) are also up.

During the earnings call, Brian White from Drexel asked,

I didn’t hear much mentioned about India. How did India perform with the iPhone, and how should we think about it for 2017, especially with the 4G network going up?

Tim answered,

That’s a really good question. Despite the de-monetization move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results. And so we were very happy about that. The de-monetization impact has not worked its way through yet; it’s still definitely having some overhang, but I think in the longer term, it’s a great move. I feel really good about how we’re doing there. We are in discussions on a number of things, including retail stores and fully intend to invest significantly in the country and believe it’s a great place to be.

[Via iMore]

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