Apple India revenue set to cross Rs 1.4 lakh crore in FY26, eyeing HUL and Samsung
Kotak MF projects Apple India FY26 revenue above Rs 1.4 lakh crore, a 6.2x jump from Rs 22,845 crore in FY21. Premiumisation, iPhone 17 demand and EMI-led accessibility drove 14 million iPhone shipments in 2025, up 16% YoY, taking 9% smartphone share in Q1.
What happened
Apple India revenue projected to cross Rs 1.4 lakh crore in FY26 per Kotak MF report, potentially overtaking Hindustan Unilever and Samsung as premiumisation
Key facts
- Rs 1.4 lakh crore FY26 projected revenue
- Rs 22,845 crore FY21 revenue
- 6.2x growth in 5 years
- 14 million iPhones shipped in 2025
- 16% YoY shipment growth
- 9% smartphone shipment share Q1
- Samsung India ~Rs 1.1 lakh crore
Why this matters
Apple's trajectory toward Rs 1.4 lakh crore validates India as a strategic growth market, raising the urgency for competitors and adjacent brands to lock in distribution, financing partnerships, and premium positioning before the window narrows.