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Apple’s India revenue hits record $9 billion amid expanding retail and manufacturing push
Apple has intensified its local retail presence to capitalise on this momentum.
Apple has intensified its local retail presence to capitalise on this momentum.
Apple’s annual sales in India have climbed to a record high of nearly $9 billion in the last fiscal year, underpinned by robust demand for iPhones and MacBooks and the company’s growing retail footprint in the country.
According to Bloomberg, revenue for the 12 months through March rose about 13% from $8 billion a year earlier, figures confirmed by a person familiar with the matter who requested anonymity as the information is not public. iPhones accounted for the lion’s share of sales, with MacBook demand also driving the uplift.
The double-digit growth marks an important win for the Cupertino-based company as it contends with plateauing global sales and geopolitical uncertainty in China, historically its largest overseas market. While India still represents a relatively small share of Apple’s overall revenues, the company is steadily increasing investment in what it sees as a critical growth market, as per Bloomberg.
China, where Apple has long enjoyed strong sales, remains volatile. Revenue from the country rose 4.4% in the June quarter, its first gain in two years, but Apple has ceded ground to domestic competitors such as Xiaomi Corp. With China’s future uncertain, India’s importance as both a consumer and production hub has increased substantially.
Apple has intensified its local retail presence to capitalise on this momentum. The company opened two new outlets this week in Bangalore and Pune, with plans for additional stores in Noida, just outside Delhi, and another in Mumbai early next year. Initiatives such as student discounts are also being used to counter high local taxes and broaden appeal.
Beyond retail, India has become central to Apple’s manufacturing strategy. One in five iPhones is now assembled in India, and Chief Executive Tim Cook intends for the country to become the primary source of US-bound devices.
Apple has not issued a public comment on the latest sales figures to Bloomberg.
SPOTLIGHT
The leaders highlighted how AI is emerging as a critical enabler in this shift from marketing’s traditional focus on new customers to a more sustainable model of driving growth from existing accounts.
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