India central to Apple’s global growth story; hits record high as iPhone demand soars

Apple Inc. reported record revenue in India for the September quarter, highlighting the company’s growing foothold in one of its most important emerging markets. The milestone came as part of Apple’s broader global surge, with quarterly sales reaching $102.5 billion — among its strongest performances to date.

It marked Apple’s 14th straight quarter of record iPhone sales in India, reflecting the payoff from its twin strategy of retail expansion and ramped-up local manufacturing, Moneycontrol stated in a report.

“We grew in the vast majority of markets we track and had September-quarter revenue records in dozens of markets,” Chief Executive Tim Cook said during the company’s post-earnings call. “We also set a September-quarter revenue record in emerging markets, and an all-time revenue record in India.”

Cook credited the robust uptake of the iPhone 17 for driving record results and said he expects the momentum to continue into the December quarter. The company’s two new flagship retail stores in Mumbai and New Delhi, launched earlier this year, have further strengthened its direct-to-consumer presence in the country.

Apple’s Chief Financial Officer Kevan Parekh said iPhone revenue rose 6 percent year over year to $49 billion, driven by the iPhone 16 lineup. “The iPhone active installed base grew to an all-time high, and we set a September quarter record for upgraders,” Parekh noted, adding that many emerging markets, including India, Latin America and the Middle East, logged record iPhone sales.

Analysts expect Apple’s growth in India to continue well into next year. IDC India estimates that iPhone shipments could reach 15.5 million units in 2025 — a nearly 25 percent increase from the previous year — even as the overall smartphone market is forecast to contract by 4 percent over the same period.

Counterpoint Research projects an even steeper climb, forecasting iPhone sales in India to grow 28 percent this year, propelled by the strong performance of the iPhone 17 series. Launch-month sales of the new models were 19 percent higher than those of the iPhone 16 lineup last year.

While early supply constraints have slowed deliveries of the higher-end iPhone 17 Pro, analysts say the demand is being deferred rather than lost. The balance between Apple’s Pro and standard iPhone models in India has improved notably this year, reaching record levels as strong demand and clearer product differentiation drive more consumers toward premium devices.

In China, premium models already make up roughly half of all iPhone sales, up from about 20 percent three years ago. India is now following a similar trajectory, with the share of higher-end models rising rapidly from single digits to the low double digits — a signal that Apple’s long bet on India’s growing consumer class may finally be paying off.