Author: Aditya Pareek | EQMint | General News

Mumbai, October 30 — Global tech giant Apple Inc. has reported record-breaking revenue from India for the September quarter, underscoring the country’s growing importance in Apple’s global strategy. Driven by robust iPhone sales and expanding retail operations, the company posted an overall quarterly revenue of $102.5 billion, marking a solid performance across both developed and emerging markets.

During Apple’s earnings call, Tim Cook, Chief Executive Officer, highlighted that the company achieved an “all-time revenue record in India” and record sales in several other emerging markets. “We also set a September quarter revenue record in emerging markets and an all-time revenue record in India,” Cook announced, emphasizing the growing role of India in Apple’s global revenue mix.

Record-Breaking Quarter Amid Global Challenges

It’s strong September quarter performance comes against a backdrop of global economic uncertainty and supply chain adjustments. Yet, the company continues to post resilient numbers, thanks to a powerful lineup of products and strategic expansion in key markets.

“We were thrilled to launch our best iPhone lineup ever, including iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air,” Cook said. “In addition, we launched the new AirPods Pro 3 and an all-new Apple Watch lineup. When combined with the recently announced MacBook Pro and iPad Pro powered by the M5 chip, we’re entering the holiday season with our most extraordinary product lineup yet.”

The strong product portfolio and seamless integration across Apple’s ecosystem have helped the company maintain momentum even as global smartphone sales remain flat.

India Emerges as a Growth Engine

India’s contribution to the company’s quarterly growth story was especially notable. The company has achieved an all-time revenue record in India, fueled by soaring iPhone sales and the growing appeal of Apple’s ecosystem among premium consumers.

According to Kevan Parekh, Apple’s Chief Financial Officer, iPhone revenue reached $49 billion, up 6% year-on-year, led by strong demand for the iPhone 16 series. “iPhone grew in the vast majority of the markets we track, with September quarter records in many emerging markets, including Latin America, the Middle East, and South Asia — and an all-time record in India,” Parekh said during the post-earnings call.

He added that it’s active installed base of iPhones hit an all-time high, with a record number of users upgrading during the quarter. This reflects both strong customer loyalty and growing brand adoption in newer markets like India.

iPhone Shipments Rise 21.5% in India

According to data from the International Data Corporation (IDC), the comapny’s shipments in India rose 21.5% year-on-year in the first half of 2025, reaching 5.9 million units. The iPhone 16 series emerged as the top-selling model, accounting for nearly 4% of total smartphone shipments across India during the same period.

Industry experts attribute this rise to a combination of local assembly initiatives, increased availability through retail and online channels, and aspirational consumer demand for premium devices. It’s decision to manufacture more iPhones locally under its “Make in India” initiative has also helped improve affordability and supply efficiency.

“Apple’s strong brand perception, coupled with improving local production and expanding retail presence, is translating into record shipments,” said a senior IDC analyst. “With aggressive expansion of Apple Stores and local assembly, India has moved from being a fringe market to a priority growth region.”

Expanding Retail Presence and Market Access

Tim Cook emphasized the company’s ongoing retail expansion as a critical pillar of its India growth strategy. “We’re heading into our busiest time of the year with our best-ever lineup,” Cook said. “In the last few months, we’ve opened new stores in emerging markets like India and the UAE, as well as new locations in the US and China.”

It’s two flagship stores — Apple BKC (Mumbai) and Apple Saket (New Delhi) — have been instrumental in building brand visibility and driving customer engagement in India. These outlets, along with it’s strong online presence through its own e-commerce platform and partnerships with major retailers, are helping the company deepen its foothold in one of the world’s fastest-growing smartphone markets.

Industry analysts note that Apple’s store strategy goes beyond sales — it’s about brand experience, after-sales service, and ecosystem integration. The company’s retail expansion complements its efforts to localize manufacturing and strengthen ties with component suppliers in India.

Emerging Markets Fuel Apple’s Broader Growth

Apple’s India success mirrors a wider trend of strong performance across emerging markets. “We grew in the vast majority of markets we track and had September quarter revenue records in dozens of regions, including the US, Canada, Latin America, Western Europe, the Middle East, Japan, Korea, and South Asia,” Cook noted.

Emerging markets are playing an increasingly central role in it’s growth trajectory, as mature markets like North America and Europe reach saturation. With rising disposable incomes, growing smartphone adoption, and a young tech-savvy demographic, markets such as India, Indonesia, and Brazil are becoming key to Apple’s long-term revenue diversification strategy.

Services Segment Reaches New Highs

Alongside hardware sales, the company’s services division — including the App Store, Apple Music, iCloud, Apple TV+, and Apple Pay — also reached an all-time high during the September quarter. The company continues to benefit from its expanding ecosystem, which drives recurring revenue and higher customer retention.

“Services are becoming an increasingly important part of Apple’s story in India as well,” said an analyst from a leading brokerage. “As the iPhone base expands, so does the adoption of Apple subscriptions, making India a double-engine growth story for both hardware and services.”

The Road Ahead: Festive Season and Beyond

As Apple heads into the festive and holiday season, the company is well-positioned to sustain its momentum. With new product launches, an expanding retail network, and increasing local manufacturing capacity, Apple is targeting deeper market penetration across India’s Tier-1 and Tier-2 cities.

Industry experts predict that India could soon become one of Apple’s top five global markets by revenue, a milestone that would underscore the country’s growing influence in the global premium electronics landscape.

For now, the message from Cupertino is clear — India is no longer an emerging opportunity; it’s a core growth engine. Apple’s record-breaking September quarter performance reaffirms that strategy.

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