Apple India Revenue Soars to All-Time High of $9 Billion

TradingKey - According to Bloomberg, Apple's annual sales in the Indian market reached nearly $9 billion in the 2024-25 fiscal year, up 13% from $8 billion in the previous fiscal year, setting a new record high.

This remarkable growth is undoubtedly a major positive for Apple, as the company is working to address stagnant global mobile device sales.

Although India still represents only a small portion of Apple's overall business, its status as "one of the fastest-growing markets" has become increasingly clear, especially amid Chinese consumer volatility and heightened geopolitical uncertainty.

Apple is rapidly expanding its offline retail network in India. Following the opening of its first stores in Mumbai and New Delhi in 2023, it further expanded to Bangalore and Pune this year, with plans to enter Noida and new areas of Mumbai early next year. This of retail touchpoints lays the foundation for long-term market penetration and is expected to drive sales growth further.

India's role has expanded beyond just a consumer market to become a core part of Apple's supply chain diversification strategy. Currently, one in five iPhones is manufactured in India, and Apple plans to develop it into a major production base for the US market.

According to The Times of India, in August of this year, Apple committed approximately $2.5 billion in investment to the Indian government and clearly stated it "will not slow down expansion plans and investments." Company executives also confirmed to Indian government officials that investment plans in India will proceed as originally envisioned, including the assembly of the upcoming iPhone 17 in India.

Apple plans to expand five factories in India through collaboration with partners such as Foxconn and Tata Group, aiming to increase iPhone annual production capacity from 40 million units to 60 million units. The majority of the additional capacity will be used for exports, particularly to the US market.