Apple's India Revenue Surges 33% YoY to Nearly $8 Billion, Led by iPhone Sales

Jul 15, 2024, 07:52 AM

Apple Inc.'s annual revenue in India has surged 33% YoY to nearly $8 billion in the year through March 2024. This growth highlights the company's steady progress in capturing the Indian market, where consumers are gaining more purchasing power as the economy expands. The increase in sales is part of Apple's broader strategy to diversify its market presence beyond China amid ongoing trade tensions. Notably, iPhones accounted for over half of the sales in India. The company has also increased its manufacturing footprint in the country and opened two flagship stores. India currently makes up only 2% of Apple's $383 billion total annual revenue. Apple's annual revenue in India was $4 billion in 2021, $6 billion in 2022, and $8 billion in 2023.