×

Tim Cook: Huge market potential in this country

Tim Cook
Tim Cook

In an interview with CNBC's Jim Cramer on Monday, Apple CEO Tim Cook said he sees plenty of opportunity in India.

"This is another huge one. India will be the most populous country in the world in 2022," Cook said.

The United Nations recently reported that India's population will surpass China's by 2022. More importantly, Cook notes, about half of India's population is 25 years old or younger. Faster cellphone service LTE is not yet available in India, though iPhones sold there. As LTE will begin to roll out in India this year, Cook sees major potential.

"That's changing — huge market potential," Cook said.

"Last quarter, we did 56 percent in India on iPhone units, so this is pretty big." -Tim Cook, CEO of Apple

Part of the resistance of Apple product penetration in India, Cook said, is that the retailers that sell Apple products in India are not huge retailers, and carriers don't sell phones there.

Read more from Mad Money with Jim Cramer

Cramer Remix: What you need to know about Apple
Cramer's game plan: Trading the Warren Buffett love-fest
Cramer: Retail isn't dead—millennials are changing the game

"Last quarter, we did 56 percent in India on iPhone units, so this is pretty big," Cook said.

As for the China and Asia, Cook remains optimistic about the growth in China and remains excited about the booming middle class there.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com