Apple has achieved a significant milestone in India, recording annual sales of more than $10 billion in the country for the first time during the last financial year. The achievement underscores India's growing role in the company's global business, according to a Bloomberg report.
Here's a look at Apple's latest milestone in India.
Revenue crosses $10 billion
Apple's revenue in India grew at a double-digit pace during the 12 months ending March, surpassing the $10 billion mark for the first time. According to a person familiar with the matter, this represents an increase from nearly $9 billion in the previous financial year.
The report said the iPhone remained the company's biggest revenue driver, while sales of iPads and MacBooks also witnessed healthy growth.
India emerging as a major growth market
While India still contributes only a small portion of Apple's global revenue, it is rapidly becoming one of the company's most important growth markets outside the United States and China.
Rising demand for premium smartphones and other Apple devices has helped Apple strengthen its presence in the Indian market.
Apple continues retail expansion
The company has been steadily expanding its retail network across India.
As part of its growth strategy, Apple opened a new retail store in Mumbai in February, increasing its total number of official stores in the country to six.
Higher prices remain a hurdle
Apple products continue to be priced higher in India because of taxes and import-related costs. For example, the base variant of the iPhone 17 is priced at Rs 82,900 in India, compared with $799 in the United States.
To make its products more accessible, Apple offers credit card discounts through banking partnerships, along with student offers and exchange programmes for older devices.
India becoming a manufacturing hub
India's importance to Apple extends beyond sales. The country has also emerged as a key manufacturing base for the company.
Apple currently operates five iPhone manufacturing facilities in India.
According to the Bloomberg report, one out of every four iPhones is now manufactured in India, with the country serving as a major production hub for devices exported to the US.
