Apple's India Sales Surge 33% to Record $8 Billion in Year Ending March 2024

Jul 15, 2024, 11:13 AM

Apple Inc.'s annual sales in India surged 33% year-over-year to nearly $8 billion in the financial year 2023-24, marking a record high. This growth comes as Apple shifts its focus from China to India, where the company now manufactures more devices and operates two flagship stores. iPhones accounted for over half of the sales, driven by increasing demand from India's expanding middle class. Despite this significant growth, India still represents only 2% of Apple's total annual revenue of $383 billion. The company aims to further diversify its market presence amid ongoing trade tensions with China. The revenue increase was reported by Bloomberg and covers the period from March 2023 to March 2024.