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Demonetization did not have an impact on Apple’s India sales: Tim Cook

“Despite the demonetization 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,” said Apple’s CEO Tim Cook in response to a question about operations in India. Cook continued, “The demonetization 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, and 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.” Note that in the previous quarter (Q4FY16), iPhone sales in India were up 50% year-on-year, although the company did not provide the absolute numbers in terms of…

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