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The Hindu
an hour ago
- Business
- The Hindu
Apple hits record India revenue in June quarter, sees $1.1 billion September quarter tariff costs overall
iPhone-maker Apple clinched revenue records in over two dozen markets, including India, in June quarter earnings that topped street expectations, but CEO Tim Cook called out the "evolving" tariff situation and estimated September-quarter tariff costs at about $1.1 billion. During the Q3 FY2025 earnings, Mr. Cook spoke of opening new stores in India and the UAE later this year. He said the company saw iPhone growth in every geographic segment and double-digit growth in emerging markets, including India, the Middle East, South Asia, and Brazil. "We saw an acceleration of growth around the world in the vast majority of markets we track, including greater China and many emerging markets, and we had June quarter revenue records in more than two dozen countries and regions, including the U.S., Canada, Latin America, Western Europe, the Middle East, India, and South Asia," Cook said, adding these results were driven by double-digit growth across iPhone, Mac, and services. The situation around tariffs is "evolving", he said, adding that for the June quarter, the company incurred about $800 million of tariff-related costs. "For the September quarter, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, we estimate the impact to add about $1.1 billion to our costs. This estimate should not be used to make projections for future quarters, as there are many factors that could change, including tariff rates," he said. He mentioned the recently-launched Apple Store online in Saudi Arabia, and said, "We couldn't be more excited to open new stores in the UAE and India later this year". For the June quarter, the tech titan reported revenue of $94.04 billion, the 10% year-on-year growth topping Wall Street expectations, while net profit came in at $23.42 billion, up 9.2% from a year ago. Meanwhile, the U.S. has announced a 25% tariff on India as the White House released a list of duties that Washington will levy on exports from nations across the globe. In an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', President Donald Trump announced tariff rates for nearly 70 nations around the world.
Time of India
3 hours ago
- Business
- Time of India
Apple logs India revenue record, new stores lined up
Apple saw record revenue in India during the April-June quarter. This growth was driven by strong performance across iPhones, Macs, and services. New Apple retail stores are set to open in India soon. The company also experienced growth in various global markets. India's smartphone market value increased significantly. Apple anticipates tariff-related costs to rise in the coming quarter. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Apple chief executive Tim Cook on Friday said there was an acceleration of growth in the April-June quarter with the iPhone maker reporting revenue records for the period in India driven by double digit growth across its smartphone, Mac computer and services to analysts during the company's third quarter earnings call, Cook said the company is going to open its new Apple retail stores in India later this year. Industry executives said the new stores are expected to be unveiled next month ahead of the festive season and when Apple launches new iPhone models. The company is working on four new stores in Bengaluru, Mumbai, Pune and Noida.'We recently launched the Apple Store online in Saudi Arabia, and we couldn't be more excited to open new stores in the UAE and India later this year,' said said there was an acceleration of growth around the world in the vast majority of markets, including greater China and many emerging markets. 'We had June quarter revenue records in more than two dozen countries and regions, including the U.S., Canada, Latin America, Western Europe, the Middle East, India, and South Asia,' he tracker Counterpoint Research in a report this week said India's smartphone market's wholesale value rose 18% year-on-year in the April-June quarter, reaching its highest-ever quarterly value. It said the iPhone 16 emerged as the most-shipped device in the period highlighting strong consumer demand. The ultra-premium (handsets priced over Rs 45,000) price segment grew 37% year-on-year, the fastest among all price bands, driven by Apple and said there was growth in iPhone sales in every geographic segment and double-digit growth in emerging markets such as India, Middle East, South Asia, and has also incurred around $800-million of tariff related costs globally in the June quarter and has estimated that the impact will add about $1.1 billion to its costs in the September quarter if the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, Cook said.
Economic Times
3 hours ago
- Business
- Economic Times
Apple logs India revenue record, new stores lined up
Apple logs India revenue record, new stores lined up Apple chief executive Tim Cook on Friday said there was an acceleration of growth in the April-June quarter with the iPhone maker reporting revenue records for the period in India driven by double digit growth across its smartphone, Mac computer and services business. Talking to analysts during the company's third quarter earnings call, Cook said the company is going to open its new Apple retail stores in India later this year. Industry executives said the new stores are expected to be unveiled next month ahead of the festive season and when Apple launches new iPhone models. The company is working on four new stores in Bengaluru, Mumbai, Pune and Noida. 'We recently launched the Apple Store online in Saudi Arabia, and we couldn't be more excited to open new stores in the UAE and India later this year,' said said there was an acceleration of growth around the world in the vast majority of markets, including greater China and many emerging markets. 'We had June quarter revenue records in more than two dozen countries and regions, including the U.S., Canada, Latin America, Western Europe, the Middle East, India, and South Asia,' he tracker Counterpoint Research in a report this week said India's smartphone market's wholesale value rose 18% year-on-year in the April-June quarter, reaching its highest-ever quarterly value. It said the iPhone 16 emerged as the most-shipped device in the period highlighting strong consumer demand. The ultra-premium (handsets priced over Rs 45,000) price segment grew 37% year-on-year, the fastest among all price bands, driven by Apple and Samsung. Cook said there was growth in iPhone sales in every geographic segment and double-digit growth in emerging markets such as India, Middle East, South Asia, and has also incurred around $800-million of tariff related costs globally in the June quarter and has estimated that the impact will add about $1.1 billion to its costs in the September quarter if the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, Cook said.
The Standard
3 hours ago
- Business
- The Standard
Apple revenue forecast beats estimates, tariff costs projected at US$1.1 billion
A view of Apple iPhones displayed at an Apple Store at Grand Central Terminal in New York City, New York, U.S., October 16, 2024. REUTERS/Kent J. Edwards/File Photo
Canada News.Net
21 hours ago
- Canada News.Net
Tea dating app confirms photo leak amid surge in users
NEW YORK CITY, New York: Tea, a controversial dating app that allows women to anonymously review and comment on their experiences with men, has confirmed a significant data breach affecting tens of thousands of user images. The company disclosed that hackers gained unauthorized access to its systems, compromising approximately 72,000 images. A spokesperson for Tea told Reuters over the weekend that the breach involved 13,000 photos submitted for identity verification — including selfies and official IDs — along with 59,000 images taken from user-generated posts, comments, and direct messages. The company emphasized that no phone numbers or email addresses were exposed and that the breach only affects users who joined the platform before February 2024. "There is no evidence at this time that any additional user data was impacted," the company said in a statement. "Protecting Tea users' privacy and data is our highest priority." Tea stated that users do not need to change their passwords or delete their accounts and added that "all data has been secured." The company said it has brought in third-party cybersecurity experts and is working "around the clock" to fortify its infrastructure. The breach was first reported by tech news outlet 404 Media on July 25. Tea, which launched with the mission that "women should never have to compromise their safety while dating," has grown rapidly in popularity. The app allows verified women to anonymously share Yelp-style reviews of men they've dated or interacted with. Some reviews include serious allegations, such as emotional abuse, coercion, or non-consensual behavior. One user wrote in an Apple Store review that she discovered over 20 red flags about a man she had just started speaking to, including accusations of assault and secretly recording women. "I can't imagine how things could've gone had I not known," she wrote. The app surged to the No. 1 spot on Apple's U.S. App Store as of July 24, driven by viral attention on social media. According to analytics firm Sensor Tower, downloads rose by 525 percent in the week of July 17 to 23. Tea claims it received over two million new user requests in recent days and now has a total of four million users. However, the app has also drawn criticism for what some see as a form of digital vigilantism. A columnist for The Times of London described Tea as a "man-shaming site," writing that it relies entirely on anonymous users with no accountability. "With Tea on the scene, what man would ever dare date a woman again?" she asked. Lawyers have also noted the legal risks for users. Attorney Aaron Minc said his firm has received hundreds of complaints related to Tea in recent weeks. "People are upset. They're getting named and shamed," he said. While U.S. law generally shields platforms from liability for user-generated content, individuals can still be sued for defamation or privacy violations. Tea's rapid rise — and the backlash that followed — may have made it a target. "These sites create enemies. They put targets on themselves," Minc added. "It's not surprising to see them get attacked."
