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Apple's India sales for the fiscal year were reported to be nearly $8 billion.

Market VisionMonday, Jul 15, 2024 4:00 am ET
1min read

Apple's sales in India hit nearly $8bn in the year to March, up 33% from the previous year's $6bn, according to a person familiar with the matter.

This highlights the rapid growth of the Indian market. The company is now assembling more phones in India and running two flagship stores.

The iPhone accounted for more than half of Apple's total sales in India, according to the person, who spoke on condition of anonymity.

Apple does not break out its sales in India in its earnings reports, but it is required to report its annual sales to the government.

Apple has been rapidly expanding its manufacturing business in India. The company now produces models including the latest iPhone 15 in the country, but not the higher-end Pro and Pro Max models. Most of the devices the company assembles in India are for export.

Apple's Indian assembly partner saw its iPhone sales in the country double last year to $14bn, according to a previous report, meaning Apple now produces about 14 per cent of its devices in India, or about a seventh.

Apple chief executive Tim Cook said during a May earnings call that the company was working across the board in India, from development to market and operations.

"I think it's a very exciting market and it's one we're focused on," he said.

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