In the latest updates, Apple’s two stores situated one each in Delhi and Mumbai have reportedly achieved an impressive revenue of Rs 190-210 crore in the previous financial year 2023-24.
Impressive Revenue Reported By Apple Stores In India
Interestingly, these two Apple stores seem to have clocked a monthly average sales of Rs 16-17 crore each consistently since the day of their launch.
A latest media report highlights that the overwhelming performance by revenue has put the stores among the top-performing retail stores of Apple worldwide.
“The two Apple stores have clocked monthly average sales of Rs 16-17 crore each consistently since their launch. The Mumbai store revenue has been a little higher than the Delhi one due to a larger size,” as per the media report.
Not only that, these Apple stores have met Apple’s expectations, matching some of the best-performing store launches, as per the report.
With this news of the success, they are now aggressively scouting space for the next three company-owned stores.
When it comes to these stores, Apple opened these stores in India last year, one in Apple BKC (Mumbai) and another one in Apple Saket (Delhi).
During this event, Apple CEO Tim Cook was present and interacted with some visitors.
More To Come In Future
“Apple will not be happy with just two stores in a market like India. Of course, there are plans to expand. It is a question of when, not if,” said one of the executives during the event.
In another development, now Apple is preparing to report its second quarter earnings after the bell on Thursday.
Meanwhile, Wall Street is bracing for what has the potential to be a sizable drop in iPhone sales out of China.
iPhone sales fell 19% in the quarter, while rival Huawei continued to regain its footing after the US attempted to kneecap the company by keeping it from accessing US chips in 2019, According to Counterpoint Research.
This seems to be an anticipated pullback in iPhone shipments as it follows back-to-back quarters of revenue declines out of Greater China, one of Apple’s most important sales regions.
The experts are expecting the revenue is set to drop 28% year over year for Q2.
