Apple reports record revenue in India during September quarter
Apple said its September-quarter revenue in India hit an all-time high, driven by growth in iPhone, Mac and services, while the iPhone 17 became the top-shipped model in the market.
Apple announced that it achieved its highest ever revenue in India for the September quarter, with growth across its iPhone, Mac and services segments, CEO John Ternus said on the earnings call. The company also reported the largest number of iPhone "upgraders" in India, contributing to a record fiscal year for upgrades worldwide.
"We grew in the vast majority of markets we tracked, setting September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific. We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India," Ternus said.
iPhone revenue reached $57.6 billion, up 17 percent year-on-year, despite supply constraints and foreign-exchange pressures. Apple also posted double-digit growth in the United States and Greater China, setting quarterly revenue records in those regions.
Counterpoint Research director Tarun Pathak highlighted India’s performance across multiple metrics, noting record numbers of iPhone upgraders, all-time Mac and services revenues, and the launch of Apple Pay. He attributed the growth to consumer aspirations, financing options, trade-in programs, expanded distribution and local manufacturing.
"Even in a tougher smartphone market, users are willing to stretch their budgets for Apple products," Pathak said.
According to Counterpoint, the iPhone 17 was the top-shipped smartphone in India during the quarter, while the MacBook Neo recorded a sales record. Although overall iPhone shipments fell year-on-year, the average selling price in India surpassed $1,000, an all-time high.
CFO Kevan Parekh said the iPhone installed base grew to a record level and that the device ranked among top-selling models in several major markets.
Mac revenue rose 24 percent to $10.8 billion globally, driven by demand for the MacBook Neo and MacBook Pro. Services revenue increased 10 percent year-on-year to $31.6 billion, also reaching a record.
Apple Pay was launched in India through a partnership with Axis Bank, expanding the service to over 90 markets worldwide.
"Turning to Apple Pay, we recently launched in India with Axis Bank, bringing a seamless, safe, and secure way to pay in one of the biggest markets in the world," Ternus said.
Pathak projected that India will evolve from a primarily iPhone growth market to a broader Apple ecosystem market, with acceleration expected from 2027 onward.