Apple Inc. has reported impressive growth in India, marking its 11th consecutive quarter of record revenue during the October-December period. Analysts project that the gross revenue from iPhone sales alone reached around $10 billion in the Indian market last year.
The growth trend for Apple in India has been significantly influenced by the rising demand for iPhones. In fact, Apple’s smartphones, which are priced considerably higher than the average smartphones sold in the Indian market, have seen a remarkable surge in sales volume—nearly tripling since 2021.
During an earnings call, Apple CEO Tim Cook emphasized India’s growing importance as both a market for consumption and a production base for exports. Although Apple does not disclose specific sales figures for India, Cook highlighted a record-setting performance for the December quarter.
Cook stated that Apple plans to expand its retail presence by opening four new stores in India. He also noted that the iPhone was the best-selling smartphone in the country for that quarter, underscoring India’s status as the second-largest smartphone market globally.
Recent data from Counterpoint India indicates that Apple achieved an 11% market share in India during the December quarter, allowing it to enter the ranks of the top five smartphone brands in the country. Estimates suggest Apple may have sold between 12 to 12.5 million iPhones in 2024. With an average selling price of around $800 (approximately ₹69,000), this figure could contribute to the $10 billion revenue mark solely from iPhone sales.
Aside from iPhones, Apple’s MacBooks and iPads are also key contributors to its revenue in India, with combined sales expected to reach between $2 and $3 billion last year.
Market analysis from researchers at Counterpoint India and IDC reveals that iPhone sales have experienced substantial growth, jumping from approximately 2.7 million units in 2020 to nearly 12.5 million units by the end of last year. In contrast, the overall smartphone market in India grew by only 7% over the same five-year period.
Experts believe there is still plenty of room for Apple to grow in India. Navkendar Singh, from IDC India, mentioned that even though increasing sales of personal computers might be challenging, there are opportunities in targeting the enterprise market. Apple has set up a dedicated sales team in India to promote its Mac lineup to businesses, enabling more specialized support and services.
Tarun Pathak from Counterpoint India added that the demand for iPhones is expected to continue growing in the coming years, predicting double-digit growth rates for at least the next two to three years. He pointed out that the latest iPhones offer good value for premium phones, and Apple’s upcoming mid-range iPhone ‘SE’ could further enhance its position in the market.
Cook also announced during the earnings call that Apple plans to introduce an Indian dialect version of Apple Intelligence soon, which could be another factor in driving growth in the country. Overall, predictions suggest that Apple’s growth in India will likely remain robust, with estimates of around 20% growth in the next couple of years.
