According to Zhitong Finance APP, after vigorously expanding its retail business, Apple (AAPL.US) achieved an annual sales record of nearly $9 billion in India in the last fiscal year, indicating that as this tech giant increases its retail presence in the world's most populous country, consumer demand for its flagship products continues to grow.
According to insiders, in the 12 months ending in March, Apple's revenue in India grew by about 13% compared to $8 billion in the same period last year. The flagship product iPhone contributed the majority of sales, and the demand for MacBook computers also saw significant growth.
This remarkable growth injects new momentum into Apple, as its global mobile device sales are currently stagnating. Although the Indian market still accounts for a limited share of Apple's overall business, the company is continuously increasing its investment in this key future market.
Considering the consumption fluctuations and geopolitical uncertainties in China—Apple's largest overseas market—breakthroughs in the Indian market are particularly important. In the June quarter of this year, Apple's revenue in China only grew by 4.4%, marking the first growth in two years, but its market share has been eroded by local competitors.
Apple has not yet responded to requests for comments.
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As part of its expansion plan in the Indian market, Apple just opened two new stores in Bangalore and Pune this week, and plans to open new stores in Noida and Mumbai in the suburbs of Delhi early next year. In 2023, given the growth potential brought by rising income levels and the emergence of the middle class in India, Apple reorganized its international business management, upgrading it to an independent sales region. According to Counterpoint Research analyst Tarun Pathak, the iPhone, which is regarded as a status symbol by many Indians, currently accounts for about 7% of the local smartphone market share.
Due to local procurement policies, Apple has been unable to open flagship stores in this South Asian country for many years. With the relaxation of policies, Apple launched its online store in India in 2020, and CEO Tim Cook subsequently unveiled the first two physical stores in the financial center of Mumbai and the capital city of New Delhi in 2023. Since then, the company has continued to expand its retail network and increase high-end authorized dealers.
High tariffs have kept the price of the iPhone in India high—the base model iPhone 16 is priced at 79,900 rupees (approximately $906.39) in India, higher than the $799 price in the United States. To stimulate sales, Apple has introduced measures such as student discounts, trade-in programs, and bank credit card cashback partnerships. Cook has repeatedly emphasized that India is one of Apple's fastest-growing markets.
India has also become a key part of Apple's manufacturing strategy. Currently, one in every five iPhones globally is produced in India, and Cook plans to make India a major production base for supplying the U.S. market. According to previous reports, Apple is expanding its iPhone production scale in India through five factories (including two newly launched factories)

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Apple's annual sales in India reached a historic high of nearly $9 billion, demonstrating the success of its retail expansion strategy. Over the past year, Apple's revenue in India grew by approximately 13% compared to the previous year, primarily driven by strong demand for iPhones and MacBooks. Although the Indian market accounts for a limited share of Apple's overall business, the company is increasing its investment in this market and plans to open more stores in the future

- Apple (AAPL.US) achieved nearly $9 billion in annual sales in India last fiscal year, marking a historic high as demand for its flagship products grows.  
- The iPhone significantly contributed to this growth, with a 13% increase in revenue compared to the previous year, while Apple continues to expand its retail presence in the country.  
- As Apple faces stagnation in global mobile device sales, the Indian market is becoming increasingly vital, with plans for new stores and a focus on local production to enhance its market position.

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The retail expansion strategy has shown significant results, with Apple's sales in India approaching a record of $9 billion