Apple India revenue nears Rs 1 lakh crore as iPhone shipments rise 24%

Apple India’s FY26 revenue reportedly grew more than 20% to nearly Rs 1 lakh crore, supported by 14 million iPhone shipments, wider retail access, local assembly and financing. Supply constraints and higher memory costs could put upward pressure on iPhone prices in coming quarters.

— Source publishedWed, 5 Aug, 2026, 10:28 IST·First seen Wed, 5 Aug, 2026, 10:33 IST·Source YourStory · Capital

What happened

Apple India’s FY26 revenue grew more than 20% to nearly Rs 1 lakh crore, driven by 24% growth in iPhone shipments to 14 million units. Expanded retail, local

Key facts

  • FY26 India revenue grew over 20% to nearly Rs 1 lakh crore (over $10 billion)
  • FY25 consolidated revenue was around Rs 79,000 crore
  • FY26 iPhone shipments reached 14 million units, up 24% year-on-year
  • Roughly one-quarter of iPhones sold are assembled locally

Why this matters

Apple’s scale-up in India strengthens the strategic value of local manufacturing, retail-distribution and consumer-financing partnerships as it seeks to sustain premium-device adoption.

What to watch

  • Actual iPhone launch pricing in India versus prior-generation models and effective post-bank-offer pricing.
  • Memory-price inflation, rupee movement and any Apple supplier commentary on component availability.
  • Quarterly India shipment data, especially premium-segment share and growth after festive-season promotions.
  • New Apple Store openings, reseller expansion and availability of same-day or near-term delivery outside metros.
  • India production volumes, supplier-capex announcements and evidence that local assembly improves launch-day stock.
  • Growth in trade-in penetration, EMI mix and average selling prices versus unit shipments.
  • Expand Apple Store and authorised reseller coverage beyond major metros, with emphasis on affluent tier-2 cities.
  • Increase financing, trade-in and bank-partnership offers to protect monthly affordability if handset prices rise.
  • Prioritise locally assembled iPhone supply for high-volume models and Indian launch inventory.
  • Use the growing installed base to push AppleCare, accessories, subscriptions and payment-linked ecosystem services.
  • Competitors including Samsung, Google and premium Chinese brands are likely to increase exchange bonuses, AI-led feature marketing and offline retail incentives.

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