Apple's Annual Sales in India Surpass $10 Billion for the First Time
Claire Weston
Apple's India revenue crossed $10 billion for the first time in the fiscal year through March, posting double-digit growth; with China under pressure, India is becoming Apple's most critical growth pillar outside the US and China.
Where did this $10 billion come from?
Bloomberg, citing people familiar with the matter, reports Apple's India revenue rose from roughly $9 billion last fiscal year to over $10 billion.
iPhone accounts for the vast majority of sales. iPad and MacBook demand also grew in tandem.
This means → Apple's India growth is still phone-driven, but the broader product ecosystem is starting to follow.
Why does India matter right now?
India still represents a small share of Apple's total business. But Apple's latest-quarter China sales came in at $18.8 billion, below some analysts' forecast of $19.6 billion, amid sustained pressure from Huawei and other local rivals.
In plain terms = the China pie is getting harder to eat; the India pie is growing fast — Apple needs a growth backup beyond the US and China.
One headwind: the rupee has fallen roughly 10% against the dollar since early last year, compressing India sales when measured in USD.
How much more do Indian consumers pay for an iPhone?
High tariffs make iPhones notably pricier in India. The entry-level iPhone 17 sells for ₹82,900 (about $870) in India versus $799 in the US, where lease plans go as low as $23 per month.
To widen its reach, Apple partners with banks on credit-card cashback, offers student discounts, and runs trade-in programs.
This means → Apple charges more in India but must use financial tools to lower the entry barrier — otherwise it cannot capture the expanding middle class.
How many stores has Apple opened in India?
Apple opened a new store in Mumbai in February, bringing its India flagship count to six.
CEO Tim Cook personally inaugurated the first two stores — in Mumbai and New Delhi — in 2023. The company has since kept expanding its retail network and adding premium authorized resellers.
This reflects a shift from exploratory presence to systematic commitment in India.
Is India more than just a sales market for Apple?
Apple now operates five iPhone factories in India. Roughly one quarter of all iPhones are made there.
India is also a major source of iPhones shipped to the US market. This dual role — manufacturing and sales — keeps raising India's weight in Apple's global strategy.
In plain terms = India is both Apple's "new living room" and its "new workshop" — a combination almost unique in Apple's global map.
Content is for reference only, not financial advice.