Apple set an all-time revenue record in India last quarter (April to June), as well as a June quarter record, and the two new company-owned stores in Mumbai and Delhi are "beating expectations", the iPhone maker announced in its earnings call on August 3. Apple's revenues in India are combined with the Middle East and Europe segment, so precise numbers are not available. Why does this matter: India, along with other emerging markets like Indonesia, Mexico, the Philippines, Poland, Saudi Arabia, Turkey and the UAE, stand out with record June quarter revenues amidst the bleak global picture. Apple posted a quarterly revenue of $81.8 billion and a net quarterly profit of $19.9 billion for the third quarter (April to June) of fiscal year 2023, compared to a revenue of $83.0 billion and a net quarterly profit of $19.4 billion from the same period last fiscal year. This is the third quarter in a row of falling revenues for the iPhone maker compared to the same periods last year and Apple expects the trend to continue this quarter because of an industry-wide slump. India is a "huge opportunity" for Apple: When asked about the market opportunity of India looking forward, Apple CEO Tim Cook replied: "We did hit a June quarter revenue record in India, and we grew strong double digits. We also opened our first 2 retail stores during the quarter. And it's -- of course, it's early going currently, but they're currently beating our expectation in terms of how they're doing. We…
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