Apple Wants to Push Further Into This Major Smartphone Market in 2022
Apple (NASDAQ: AAPL) stepped on the gas in India in 2021 as growing demand for 5G smartphones there helped the tech giant attract more users into its fold.
According to CEO Tim Cook, Apple's business doubled in India in fiscal 2021 (ended Sept. 25, 2021) which was well ahead of what analysts were expecting. While Cook didn't spell out Apple's exact revenue from India, calculations indicate that the company generated close to $4 billion in revenue there. That may not be a big deal considering Apple's fiscal 2021 revenue of $365.8 billion, but investors shouldn't miss the fact that the company still has a lot of room for growth in India given the booming demand for 5G smartphones in the country.
Let's look at the reasons why 2022 could be another blockbuster year for Apple in India.
Source Fool.com
