Apple Inc. recorded an all-time high of nearly $9 billion in annual sales in India during the last fiscal year, depicting a sharp rise in consumer sentiment for its premium devices. Apple has also accelerated its retail expansion, opening flagship stores and strengthening its online presence to tap into the country’s vast market potential. As India cements its status as the world’s most populous nation, Apple’s strategic investments signal a long-term commitment to capturing demand across urban and emerging regions.
How much has Apple’s revenue increased?
Apple’s revenue rose about 13 percent in the 12 months through March from $8 billion a year earlier, according to a person familiar with the matter, who declined to be named as the information is private. Apple’s marquee iPhones accounted for a majority of the sales, and demand for MacBook computers also surged.
The jump which hasn’t been previously reported, is a boost for the company at a time it’s grappling with declining mobile device sales around the world. While India still represents a fraction of its overall business, the company is investing in a country it expects to become a key market in the coming years.
Apple’s New Strategy- Launching Flagship Stores!
As part of its retail push in India, Apple just added two new stores in the cities of Bangalore and Pune this week. It’s also is planning to launch a new outlet in Noida, on the outskirts of Delhi, and another in Mumbai early next year. the new deals close
India’s local sourcing requirements prevented Apple from opening its iconic stores in the South Asian nation for years. As the policy eased, Apple finally launched its online store in India in 2020. Apple’s Chief Executive Officer Tim Cook then inaugurated the first two stores in India, respectively located in the financial hub of Mumbai and capital New Delhi, in 2023. The company has since boosted its retail network in the country and added more premium resellers.
Apple Shuffling India Management!
The US company in 2023 reshuffled management of its international businesses, making India its own sales region due to the growth potential the market offers with its rising incomes and a burgeoning middle class. iPhones, viewed by many Indians as a status symbol, currently account for about 7% of the local smartphone market, according to Tarun Pathak of Counterpoint Research.
Promoting Sales through discounts
High taxes make iPhones pricey in India — Apple sells the entry-level iPhone 16 model at 79,900 rupees ($906.39) in India, compared with the $799 price tag in the US. The company has been trying to work around that by offering student discounts, trade-ins on older devices, and by partnering with banks for credit card rebates, and the measures have boosted sales. Cook has consistently said India’s among the company’s fastest-growing markets.
