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Apple CEO Tim Cook has said he is very bullish on India and described the country as a major focus and "hugely exciting market where the technology giant is putting a significant amount of energy through investments, retail and online presence. Apple on Thursday reported revenue of USD 117.2 billion for the December quarter and set all-time revenue records in a number of markets, including Canada, Indonesia, Mexico, Spain, Turkey and Vietnam, along with quarterly records in Brazil and India. The USD 117.2 billion revenue was down 5 per cent year-over-year, from nearly USD 124 billion in December 2021 as a result of a challenging environment. We actually did fairly well through COVID in India. And I'm even more bullish now on the other side of it, or hopefully, on the other side of it. And that's the reason why we're investing there. We're bringing retail there and bringing the online store there and putting a significant amount of energy there. I'm very bullish on India, Cook said a
After strict COVID lockdowns in China that led to months of supply chain disruptions, Apple is now moving some iPad production out of China and shifting it to Vietnam.To guard itself against future shortages and supply snags, Apple has also asked multiple component suppliers to build up their inventories, as per the sources cited by Asia Nikkei.Plans of exiting China and moving its business into Vietnam were under consideration earlier as well, however, due to the sudden surge in COVID-19 cases in Vietnam a few months later, Apple delayed its plans.This decision by Apple to move away from China reflects the company's continuous efforts to diversify its supply chain. It also highlights the growing importance of Vietnam to the company.In particular, Apple is asking suppliers outside the lockdown-affected areas to help build up a couple of months' worth of component supplies to ensure supply continuity over the next few months. The requests apply to all of Apple's product lines -- ...