Apple India FY26 Revenue Grows 20% to Near Rs 1 Lakh Cr Mark, Supplies Rise 24%

New Delhi: Apple’s India revenue grew by over 20 per cent to near Rs 1 lakh crore in FY26, with iPhone shipments growing by 24 per cent year-on-year, according to industry sources.

Apple India had posted consolidated revenue of around Rs 79,000 crore in the financial year 2025.

“Apple’s revenue in India has crossed USD 10 billion due to record shipments of iPhone in FY26. In Indian rupee terms, it was somewhere close to the Rs 1 lakh crore revenue mark,” a source aware of the development said.

Apple has been posting record performance in India over the last several quarters.

According to Counterpoint research, Apple’s iPhone shipments for FY26 grew to 14 million units, up 24 per cent year-on-year.

The iPhone accounts for the majority of Apple’s revenue in India.

Neil Shah, Co-Founder and VP for Research at market research and analysis firm Counterpoint, said India has emerged as a cornerstone growth market for Apple, driven by rapid iPhone adoption as mature smartphone users trade up to premium devices.

“Over the last few years, Apple has systematically built momentum through an expanded retail footprint, localised manufacturing, and flexible financing options. This strategy is now creating a powerful flywheel effect for its brand as the expanding iPhone user base adopts broader ecosystem offerings spanning Macs to services such as Apple Music,” he said.

IDC India analyst Navkendar Singh said India was again a standout for Apple in the recently reported quarter, setting another revenue record with double-digit growth.

“On a still-modest share of the world’s second-largest smartphone market, that signals a long runway, powered by first-time buyers, wider retail and financing access, and roughly a quarter of iPhones now assembled locally.

“The near-term will test this – Apple has flagged significant supply constraints in the next few quarters, and a global memory-cost crunch is pushing prices up. Prices for iPhones will see an increase in the next few weeks; however, demand should absorb it,” Singh said.

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