Apple achieved record-breaking revenue in India for the fourth quarter ending September 2024, driven by strong iPhone sales, as CEO Tim Cook announced on November 1. During Apple’s Q4 earnings call, Cook expressed excitement about Apple’s growing popularity in India. He highlighted the iPhone’s all-time revenue record in the region, which reflects Apple’s increased market share.

Record-breaking iPhone sales propel Apple’s revenue growth in India

Apple’s Q4 report shows that India is now a key market, with the iPhone leading its product sales. This success demonstrates the brand’s growing influence in India. Apple currently holds nearly 7% of the smartphone market by volume and ranks second in value share. Notably, iPhone exports from India rose by 33% between April and September 2024. Apple’s manufacturing and export efforts through its Tamil Nadu-based Foxconn facility have reached new heights.

Apple expands retail footprint with 4 new stores in major Indian cities

In response to the iPhone’s success, Apple plans to expand its retail footprint in India by opening four new stores. This move adds to the two currently in operation—Apple BKC in Mumbai and Apple Saket in New Delhi. The new stores, expected in Bengaluru, Pune, Mumbai, and Delhi-NCR, will give customers greater access to Apple products and services. This expansion aligns well with Apple’s growth strategy for the Indian market.

Global success fuels Apple’s iPhone sales growth in India

Apple’s revenue growth in India mirrors its international success. In Q4, Apple reported $94.93 billion in revenue, a 6% increase from last year, driven by strong iPhone 16 sales. Despite a slight dip in China’s performance, iPhone sales saw a 5.5% global rise. This success reflects the iPhone’s strong consumer appeal and contributes to Apple’s rising popularity in India.

Local manufacturing strengthens Apple’s market position in India

Apple’s commitment to India extends beyond retail and sales. This year, it produced the entire iPhone 16 lineup locally, making India the first country outside China to handle premium production. This strategic manufacturing expansion underscores Apple’s focus on India as a major growth market for both sales and production. With record-breaking revenues, new retail stores, and local manufacturing, Apple’s growth in India is set to continue, solidifying its position in one of the world’s fastest-growing markets.