Apple CEO Tim Cook is pleased as punch: "We set all-time records for both developed and emerging markets and saw revenue growth across all of our product categories except for iPad, which we said would be supply constrained," he said during an earnings call. Emerging markets include India, where the iPhone 13 was launched. Despite logistics constraints and supply shortages, Apple recorded revenue of $123.9 billion, 11 per cent up YoY in the October-December quarter of 2021. CMR estimates iPhone's potential market share in CY 2021 to be about 4.4 per cent, up from 2.4 per cent in CY 2020.