“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 units sold. Apple did not provide any India specific numbers this quarter, although SVP and CFO at Apple Luca Maestri said that, “We also established new all-time revenue records in most developed and emerging markets, with strong growth rates in many countries, including the U.S., Japan, Canada, France, Australia, Brazil, India, Turkey, and Russia.” Services revenues: Revenues from Apple’s Internet-based services like Applecare, Apple Pay, licensing revenues, and other services stood at $7.2 billion, growing 18% year on year. Under services, Apple mentions that its App Store ‘broke all-time records’ during the holiday quarter, including $3 billion in purchases in December alone. Cook mentions that “Our innovative and vibrant developer…
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