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Apple’s CEO Tim Cook said that iPhone sales in India were up 51% year-on-year during an analyst call for the quarter ended June 25, 2016 (Q3FY16). In the previous quarter (Q2FY16), iPhone sales in India grew by 56%. Cook also added that “India is now one of our fastest growing markets…We’re looking forward to opening retail stores in India down the road.” The company claims to have garnered a higher growth in overall revenue and iPhone sales in emerging markets like India, Brazil, Turkey, etc.

Here are some of the key takeaways from Apple’s call with investors:

Service revenues:

Revenues from Apple’s Internet-based services like Apple Care, Apple Pay, licensing revenues, and other services stood at $5.9 billion, which grew by 19% y-o-y. Under services, the company says that its App Store revenue “was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record.”

Apple also posted a separate “installed based related” non-GAAP revenues of $10.3 billion, which is up 29% from $8 billion in the same quarter last year, and an all-time high since FY14. These revenues account for paid installs and purchases from iTunes, Apple Music, App Store, Licensing, iCloud, and Apple Pay.

 iPhone sales slowing but SE edition in demand

Globally, iPhone sales have slowed down. The company sold 40.4 million units in this quarter, down 21% from 51.1 million units in the previous quarter (Q2FY16). In the same quarter last year (Q3FY15), Apple sold 47.5 million iPhones. Revenue from iPhone sales was $24 billion in this quarter, which contributed to a majority of the overall revenue.

Revenue from iPhone sales were also down by 23% from $31.3 billion in the same quarter last year, and dropped 27% from 32.8 billion when compared to the previous quarter.

However CEO Tim Cook said the latest 4-inch iPhone SE models are “popular in both developed and emerging markets, and the percentage of iPhone SE sales going to customers who are new to iPhone is greater than we’ve seen in the first weeks of availability for other iPhones launched in the last several years.”

iPad Sales boosted by Pro version

Apple sold 9.9 million units of iPad globally in this quarter, which is down marginally by 9% from 10.9 million units in the same quarter last year (Q3FY15). In the previous quarter (Q2FY16), Apple sold 10.3 million iPads.

However, Apple has cashed in revenues of $4.8 million from iPad sales this quarter, which is up 7% from $4.5 million in the same quarter last year. In the preceding quarter, revenues from iPad sales stood at $4.4 million. CEO Tim Cook said that growth in iPad revenue was mostly from the global rollout of it latest 9.7 inch iPad Pro model.

Mac sales are slowing

Apple sold 4.2 million Mac units in this quarter, generating revenues of $5.2 million. However, sales of Mac units dropped by 11% from 4.7 million units in the same quarter last year (Q3FY15), while Mac sales were up 5% when compared to 4 million units in the previous quarter (Q2FY16).

Cook said that the slowdown in Mac sales was due to overall market slowdown, with IDC estimating a 4% global drop in PC shipments. “Mac continues to gain a high percentage of new customers and our Mac install base has grown to a new all-time high at the end of June quarter,” added Cook.

Financials

Globally, Apple posted a net profit of $7.8 billion for Q3FY16 and generated revenues of $42.6 billion, which is down 14% from $49.6 billion in the same quarter last year. In the previous quarter (Q2FY16), the company posted total revenues of $50.6 billion and indicated a lower revenue guidance of $41-43 billion for Q3FY16 amid slowing device sales.

Download: Press release | Transcript

Image Credits: Flickr user  Mike Deerkoski under CC BY 2.0