Apple India sales cross $10 billion milestone

Apple’s annual sales in India surpassed $10 billion for the first time, strengthening the country’s position as one of the technology group’s fastest-growing consumer markets.

Revenue for the financial year ended March 2026 rose from nearly $9 billion a year earlier, driven mainly by demand for iPhones, Mac computers and services. The increase came as Apple widened its company-owned retail network, expanded financing options and deepened distribution beyond the largest metropolitan centres.

The performance marks a sharp acceleration from the roughly $8 billion recorded in the year ended March 2024. It also underlines Apple’s ability to gain ground in a price-sensitive market where devices using Google’s Android operating system account for the overwhelming majority of smartphone sales.

The iPhone remained Apple’s largest source of revenue in the country. Sales were supported by premiumisation in the smartphone market, trade-in programmes and instalment plans that reduced the upfront cost of devices. Older iPhone models also continued to attract buyers after price reductions following new product launches.

Apple does not disclose country-level sales in its global financial statements. The India figure reflects sales booked through its local operation and may include products distributed through company stores, online channels, authorised resellers and large electronics chains.

The company now operates six physical stores across Mumbai, Delhi, Bengaluru, Pune and Noida. Its latest outlet opened in Borivali, Mumbai, in February, adding to Apple BKC, Apple Saket, Apple Hebbal, Apple Koregaon Park and Apple Noida.

Further retail expansion is being prepared, including another store in Bengaluru. Apple has also been recruiting specialists, technical staff and customer-support employees for multiple locations, indicating that its direct-sales presence will continue to grow.

Company-owned stores offer Apple greater control over pricing, product presentation and after-sales support. They also provide space for training sessions, product demonstrations and technical services, helping the group build customer loyalty in a market where many purchases have traditionally been made through third-party retailers.

The Apple Store online, launched in 2020, remains an important part of the company’s strategy. It allows customers across the country to access trade-ins, custom Mac configurations, education pricing and direct delivery, including in cities without a physical Apple outlet.

Apple’s sales expansion has coincided with a substantial increase in local manufacturing. Contract manufacturers Foxconn and Tata Electronics have raised iPhone assembly capacity, while suppliers are expanding component operations to support a broader production ecosystem.

The country is expected to account for about a quarter of global iPhone production during 2026. Apple has also been working to supply a larger share of devices sold in the United States from factories operated by its partners in the country, reducing dependence on China.

The manufacturing network includes operations in Tamil Nadu and Karnataka, with further investment planned in assembly, enclosures, display components and semiconductor-related infrastructure. The expansion is being supported by production incentives and proposed tax concessions for foreign companies supplying equipment to contract manufacturers.

Authorities have proposed extending exemptions covering machinery provided to electronics producers until 2041. The measures are designed to reduce tax uncertainty for global suppliers and encourage longer-term investment in mobile phones, laptops, tablets and wearable devices.

Local production has helped Apple avoid some import duties and improve product availability. However, the company still relies heavily on components sourced from abroad, and manufacturing costs can remain higher than in China because of logistics, tariffs and a less developed supplier base.

India delivered another record quarter for Apple during the three months ended June. Mac sales reached an all-time high in the country, while demand for iPhones and other devices continued to expand.

Globally, Apple reported revenue of $109.42 billion for its fiscal third quarter, up 16 per cent from a year earlier. iPhone revenue climbed 22 per cent to $54.25 billion, while Mac revenue advanced 29 per cent to $10.35 billion.

Despite its growth, Apple remains a relatively small player by unit volume in the country’s smartphone market. Its share is considerably stronger in the premium category, where consumers are showing greater willingness to spend on high-end devices, financing plans and connected services.