Highlights
- Apple’s India revenue hit nearly $9 billion in FY ending March, up 13% YoY.
- Apple opened flagship stores in Mumbai and New Delhi with more planned in Noida and Mumbai.
- Rising middle-class demand and incentives like trade-ins and student discounts are boosting premium device adoption despite high import taxes.
Caption – (Photo by Junseong Lee on Unsplash)
Apple has achieved a major milestone in India with annual sales crossing nearly $9 billion in the last fiscal year, driven by strong demand for iPhones and an expanding retail footprint. The record numbers highlight the country’s growing importance for the Cupertino-based tech giant, as global smartphone sales plateau and competition intensifies in China.
Apple’s Record-Breaking Sales in India
Credit – Bloomberg
According to a person familiar with the matter, Apple’s revenue in India grew by 13% year-on-year, rising from $8 billion to almost $9 billion in the 12 months ending March. The bulk of sales came from the company’s flagship iPhones, while demand for MacBook laptops also saw a notable increase.
This growth provides a much-needed boost for Apple, which has been navigating challenges in other key markets. While India still contributes only a fraction of Apple’s global revenue, it is quickly emerging as a strategic growth hub.
Retail Expansion in India
As part of its retail strategy, Apple recently opened two new stores in Bangalore and Pune. The company also plans to add another outlet in Noida (Delhi NCR) and a second Mumbai store early next year.
Apple had been restricted from launching its iconic stores in India for years due to local sourcing rules. Following policy changes, Apple launched its online store in 2020, and in 2023, CEO Tim Cook inaugurated the company’s first two flagship retail stores in Mumbai and New Delhi. Since then, Apple has continued strengthening its retail presence with more exclusive outlets and premium resellers.
India’s rising middle class, higher disposable incomes, and growing appetite for premium devices have made it a crucial focus for Apple. Counterpoint Research’s Tarun Pathak notes that iPhones already account for around 7% of India’s smartphone market, where they are often seen as a status symbol.
However, iPhones remain expensive due to high import taxes. For instance, the entry-level iPhone 16 starts at ₹79,900 ($906) in India, compared to $799 in the US. To address this, Apple has introduced student discounts, trade-in programs, and bank partnerships for cashback offers, which have helped boost adoption.
Manufacturing Shift to India
Beyond retail, India is also becoming a key part of Apple’s manufacturing ecosystem. Currently, one in every five iPhones is produced in India with plans to expand further as Apple diversifies away from China. The company now manufactures iPhones at five facilities in India, including two recently launched factories. According to Bloomberg, Apple intends to make India a major hub for US-bound iPhones.
Apple did not comment on the sales report, but CEO Tim Cook has repeatedly emphasised India as one of the company’s fastest-growing markets. With expanding production, new stores, and rising consumer demand, Apple is positioning itself to make India a cornerstone of both its retail and manufacturing strategy.
FAQs
Q1. What drove Apple’s record $9 billion sales in India last fiscal year?
Answer. Apple’s India revenue rose 13% year-on-year, fueled by strong iPhone demand, growing MacBook sales, and an expanding retail presence. The country is becoming a strategic growth hub as global markets slow.
Q2. How is Apple expanding its retail footprint in India?
Answer. Apple opened flagship stores in Mumbai and New Delhi in 2023, with new outlets planned for Noida and Mumbai. The company also offers online sales, trade-in programs, student discounts, and bank cashback offers to boost adoption.
Q3. Is Apple manufacturing iPhones in India now?
Answer. Yes. One in five iPhones is currently made in India across five facilities. Apple is scaling production to reduce reliance on China and aims to make India a major hub for US-bound iPhones.