Apple’s Record-Breaking Run in India: iPhone Sales Reach $10 Billion

Apple Inc. achieved its 11th consecutive quarterly revenue record in India during the October-December period, with analysts estimating that iPhone sales alone generated $10 billion in revenue for the company last year.

Apple’s growth in India has been fueled by surging demand for iPhones, despite the company’s premium pricing—more than three times the average selling price of smartphones in the country. Since 2021, Apple’s iPhone sales volume has nearly tripled annually, marking a significant success.

Speaking during Apple’s post-earnings call, CEO Tim Cook emphasized India’s importance as both a key consumer market and an export hub. While Apple does not disclose India-specific financials, Cook noted that India set a record for the December quarter.

“We’re opening four new stores in India. The iPhone was the top-selling model in the country for the quarter. India is the world’s second-largest smartphone market and the third-largest for PCs and tablets, yet our market share remains modest—so there’s substantial growth potential,” Cook said.

Apple Breaks Into India’s Top Five Smartphone Brands
According to market researcher Counterpoint India, Apple achieved an 11% market share in India during the December quarter, placing it among the top five smartphone brands in the country for the first time.

A survey of four analysts estimated that Apple shipped between 12 million and 12.5 million iPhones in India in 2024. With an average selling price of around $800 (₹69,000), iPhone sales alone likely accounted for nearly $10 billion in revenue. Additionally, Apple’s MacBook and iPad sales in India are estimated to have contributed another $2-3 billion.

Room for Expansion in India
Market data from Counterpoint India and IDC shows iPhone sales in India surged from approximately 2.7 million units in 2020 to nearly 12.5 million by the end of 2024. In contrast, India’s overall smartphone market saw only a 7% growth over the past five years, as consumers became more cautious about upgrading their devices.

Analysts believe Apple still has significant room for expansion in India.

Navkendar Singh, associate vice president at IDC India, noted that while enterprise PC sales remain challenging due to market dynamics, Apple has the potential to tap into this sector. The company has established a dedicated enterprise sales team in India to promote its Mac lineup to businesses. Unlike third-party distributors, Apple’s internal team can provide specialized technical support and trade-in offers for older devices—an important factor given Apple’s premium pricing.

Although Apple may not reach the same scale as PC giants like HP, Dell, and Lenovo in India, Singh believes the company has “considerable headroom for growth due to its relatively small base in the market.”

Sustained Growth Expected in the Coming Years
Tarun Pathak, director and partner at Counterpoint India, expects Apple to maintain double-digit growth in iPhone sales for at least the next two to three years.

“The latest iPhones continue to see strong demand due to more affordable premium phone options. Additionally, Apple is expected to launch a mid-range iPhone SE with an updated design, which could further expand its customer base in India,” Pathak said.

Cook also revealed that Apple plans to introduce an Indian dialect version of Apple Intelligence soon. These initiatives, combined with strong demand, are expected to sustain Apple’s growth at around 20% annually over the next two years.