Apple hits a record $10B in annual retail revenue in India
Apple has set new annual sales in India, with its second main iPhone manufacturing base generating a record $10 billion in sales despite currency and tax challenges.
India serves as Apple’s second base of iPhone production alongside China, as part of the wider supply chain. While Apple has been building up its production capacity in India, it’s also been increasing sales there, too.
According to a Tuesday Bloomberg report, Apple has exceeded $10 billion in annual sales in India over the last fiscal year. It eclipses the $9 billion annual revenue that was reported in September 2025.
Advised by an unnamed source familiar with the matter, the $10 billion was for the 12-month period running to March. It represents a double-digit year-on-year percentage increase over the previous fiscal year.
The bulk of the sales are for the iPhone, the source claimed. However, the demand for other products, such as iPad and Mac sales, also rose in the year.
A significant increase, despite financial disadvantages
Earning $10 billion in revenue in India is certainly a lot. Compared to other markets, India is still relatively small.
By comparison, China has a comparative population of 1.41 billion people, but accounted for $18.8 billion in revenue in Apple’s most recent quarter. Japan managed $6.6 billion in the last quarter, with its population of 122 million people.
The $10 billion figure isn’t significant when put against other major regions Apple monitors. But, it is when you consider that India is a challenging country for sales.
While there’s a backdrop of Apple expanding its presence with more retail stores over time, it has to combat exchange rates. India’s rupee has declined 10% versus the US dollar.
There are also local taxes to contend with, which also push the price up. The entry-level iPhone 17 is 82,900 rupees in India, making it approximately $870 versus the same $799 product in the United States.
The higher prices have been countered by Apple working with banks to provide credit card rebates, as well as increasing student discounts and handling trade-ins.
More than just production
India is a tougher trading environment for Apple, and it is succeeding, but it is only part of the reason for its work there.
Apple has been working to diversify its supply chain from its China-centric arrangement for years, and India has proven itself to be highly useful in accomplishing that.
It also helps that Apple gets considerable financial benefits for setting up shop in India. Various production incentives and tax exemptions have made it viable for Apple to continue expansion in the country.
On Monday, it was revealed that more benefits are on the way. That includes import tax exemptions for components that are used for manufacturing in India bit are used in products that are exported and not sold in the country.
