Apple & India: A Match Made In Heaven?

Apple posted $90.75 Bn revenue in the March quarter, up from $81.8 Bn in the year-ago period.

It was reported earlier that Apple’s two India-based company-owned outlets each reported revenue of INR 190-210 Cr in FY24, emerging as the top-performing retail outlets of the iPhone maker globally.

Apple achieved record revenue in India during the quarter ending in March 2024, although it saw an overall 4% decline in revenue globally.

Apple’s India business recorded a revenue of INR 49.3K Cr (almost $6 Bn) in FY23, marking an increase of 48% from INR 33.3K Cr ($4.03 Bn) in FY22.

"We achieved strong double-digit growth, setting a new revenue record for the March quarter," said Apple CEO Tim Cook during the earnings call.

"India remains an incredibly exciting market and a major focus for us. From an operational standpoint, producing in India is essential for competitiveness," he added.

Apple Sets Revenue Record In India Amid Global Slowdown