Apple Inc. has posted record revenues for its latest quarter, driven by a rise in iPhone sales around the world, with a notable contribution from India. The company's chief executive, Tim Cook, highlighted the key role of India in Apple's success, pointing to record iPhone sales in the country. Cook said during a call with investors: We continue to be excited about the momentum that we're seeing in India, where we set a record in the September quarter.

Apple's focus on the Indian market has helped to drive growth for the iPhone, with Cook adding that the iPad also saw double-digit growth in India during the past quarter.

Apple plans to expand its presence in India with four new retail stores in Bengaluru, Bhopal, Mumbai and Delhi NCR, adding to its existing flagship stores, Apple BKC in Mumbai and Indiranagar in New Delhi.

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On a global level, Apple's revenue beat Wall Street expectations, reaching $94.9 billion, up 6.1% from the same period last year, and exceeding analysts' expectations of $94.4 billion. Earnings per share were 97 cents, although they would have been $1.64 had it not been for a one-time charge related to a European court case.

The company faced some headwinds in China, with revenue down slightly to $15 billion amid increased competition from local brands. However, iPhone sales continued to grow in all markets, with Cook indicating that the challenges in China were more pronounced in other product categories.

Quarterly results were boosted by early sales of the newly launched iPhone 16, which went on sale on September 20. Cook said that initial sales of the iPhone 16 outpaced its predecessor, the iPhone 15, in the same period last year, reflecting strong demand for the latest model.

In addition, Apple's latest operating system, which includes new features such as Apple Intelligence, has seen an impressive adoption rate, with downloads occurring at twice the rate of last year.

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