Apple Inc., the global technology giant, has achieved its highest-ever revenue in the December quarter for its India business. The company’s strong performance in India reflects the growing popularity of its products in the country’s market.
Apple’s CEO, Tim Cook, announced that India witnessed strong revenue growth in the December quarter, reaching a record high. The company’s India business recorded a revenue of INR 49.3K Cr (approximately $6 billion) in FY23. This achievement highlights the increasing demand for Apple products in the Indian market.
Apple’s revenue growth in India was primarily driven by strong iPhone sales. The company’s revenue from iPhones grew by about 6% to USD 69.7 billion in the reported quarter. Apple’s focus on offering innovative features and a seamless user experience has contributed to the popularity of iPhones among Indian consumers. The company reported all-time high revenues in other emerging markets such as Malaysia, Mexico, the Philippines, Poland, Turkey, Indonesia, and Saudi Arabia. This indicates Apple’s ability to capture market share and meet the demands of diverse consumer segments.
Apple has also witnessed increased adoption of its products by enterprises in India. Indian technology company Zoho, for example, has offered its global employees a choice of devices, with 80% of their workforce using iPhones for work and a significant number choosing Mac as their primary computer. This trend highlights Apple’s appeal in the business sector.
According to market research firm Counterpoint Research, Apple led the Indian market with the highest revenue in 2023 for the first time. While Samsung topped the chart in terms of volume sales, Apple surpassed the 10-million-unit mark in shipments and captured the top position in revenue for the first time. This achievement showcases Apple’s ability to command a premium position in the Indian market.
RTM Watch’s Take
Apple’s highest-ever revenue in the December quarter for its India business demonstrates the company’s strong market position and growing popularity among Indian consumers. The success can be attributed to factors such as strong iPhone sales, growth in emerging markets, and increased adoption by enterprises. Apple’s ability to cater to the diverse needs of Indian consumers and its focus on delivering innovative products have contributed to its remarkable performance in India.
