APPLE TO OPEN MORE RETAIL STORES IN INDIA
India was one of the rare bright spots, with 51% rise in iPhone sales in the nine month ended June 30, against the same period last year, Apple CEO Tim Cook said on Tuesday. “India is now one of our fastest growing markets... We’re looking forward to opening more retail stores in India down the road, and we see huge potential,” Cook told analysts during a conference call after the company announced quarterly results. Sales in China, once touted as Apple’s next growth engine, fell 33.1% during the period. Globally, Apple reported a 15% drop in iPhone sales to 40.4 million units in April-June, from a year ago. Quarterly net profit fell 27% to $7.8 billion, while $42.36 billion revenue beat expectations.