NEW DELHI — Apple India’s annual revenue surpassed Rs 1 lakh crore for the first time in fiscal 2026, driven by rising demand for premium smartphones and strong iPhone sales in one of the world’s largest smartphone markets.
Apple India Private Limited reported revenue of Rs 1,03,853 crore for the financial year ended March 2026, an increase of 31% from Rs 79,060 crore in the previous year, according to filings submitted to the Registrar of Companies and accessed through business intelligence platform AltInfo.
The growth marked a significant acceleration from the 18% revenue increase recorded in fiscal 2025.
Net profit climbed 66% to Rs 5,311 crore, compared with Rs 3,196 crore a year earlier. The increase was substantially higher than the company’s 16% profit growth in fiscal 2025.
Apple’s strong financial performance came despite relatively sluggish growth in India’s overall smartphone market.
According to Counterpoint Research, smartphone shipments in India increased just 2% by volume and 9% by value during fiscal 2026. However, the premium segment, which includes devices priced above Rs 30,000, recorded a 12% increase in sales volume.
Apple benefited from consumers’ growing preference for higher-priced smartphones, with iPhone sales volumes rising 24% during the financial year, more than double the 11% growth recorded in fiscal 2025.
The results also narrowed the revenue gap between Apple India and Samsung Electronics India, one of its largest competitors in the country.
Samsung Electronics India reported revenue of Rs 1.12 lakh crore in fiscal 2026, slightly ahead of Apple’s Rs 1.04 lakh crore.
However, the companies’ financial results are not directly comparable because Samsung operates across several additional product categories, including televisions, home appliances and telecommunications equipment, while also generating revenue from exports.
Samsung’s mobile phone revenue reportedly declined 1.4% to Rs 81,472 crore during the financial year.
Apple’s latest results highlight the growing importance of India’s premium smartphone market, where demand for more expensive devices has continued to outpace the broader industry.
The sharp increase in revenue and profitability also underscores Apple’s expanding presence in India as the company benefits from stronger iPhone demand and consumer spending on premium technology products. (Source: IANS)
