- Apple has crossed a major milestone in India, recording more than $10 billion in annual sales for the first time during the last financial year, highlighting India's growing importance in the company's global business, according to a Bloomberg report.
- Apple's revenue in India grew at a double-digit rate in the 12 months ended March, crossing the $10 billion mark for the first time.
- This is up from around $9 billion in the previous financial year, according to a person familiar with the matter.
- iPhones accounted for most of the company's sales, while demand for iPads and MacBooks also increased.
- Although India still contributes only a small share of Apple's global business, it is emerging as one of the company's most important growth markets outside the US and China.
- Growing demand for premium smartphones and other Apple products has helped the company strengthen its position in the country.
- Apple has been steadily increasing its retail footprint in India.
- As part of its expansion plans, the company opened a new store in Mumbai in February, taking the total number of its official retail stores in the country to six.
- Apple products continue to cost more in India because of higher taxes.
- For instance, the entry-level iPhone 17 is priced at Rs 82,900 in India, compared with $799 in the US.
- To attract more buyers, Apple has tied up with banks to offer credit card discounts.
- India has also become an important manufacturing base for Apple.
- The company now has five factories producing iPhones in the country.
- According to the report, one in every four iPhones is now made in India, with the country serving as a major production hub for devices exported to the US.
Apple's annual sales in India exceeded $10 billion for the first time during the last fiscal year, marking a significant milestone for the tech giant. This achievement underscores the growing demand for premium smartphones and other Apple products in a market where the company is expanding its retail footprint.167
The revenue growth, reported to be at a double-digit rate in the 12 months ending in March, is a notable increase from approximately $9 billion in the previous year. iPhones accounted for the majority of sales, with rising demand for iPads and MacBooks also contributing to this growth.234
Despite still representing a small portion of Apple's global revenue, India is becoming a crucial growth market outside the US and China. The company has been actively increasing its retail presence, recently opening a new store in Mumbai, bringing the total to six official retail locations in the country.8
To attract more customers, Apple has partnered with banks to offer credit card discounts, although its products remain more expensive in India due to higher taxes. For example, the entry-level iPhone 17 is priced at ₹82,900, compared to $799 in the US. Additionally, India has emerged as a vital manufacturing hub for Apple, with one in every four iPhones now made in the country, supporting exports to the US.9101114
“iPhones accounted for a significant majority of the sales, while demand for iPads and MacBooks also rose, according to a person familiar with the matter. India has become a major manufacturing hub, with one in every four iPhones now made there and five factories exporting devices to the US.”
