Excitement for the Apple iPhone is soaring once more. Just days before the eagerly awaited worldwide release of the brand-new iPhone 17 series, Apple has achieved another noteworthy milestone. According to a Bloomberg report, the iPhone manufacturer generated over $9 billion in annual sales in India alone during the last fiscal year.
Counterpoint Research data indicates that the majority of sales were driven by the company's flagship iPhone, which represents 7 percent of India's smartphone market. Additionally, the report notes a significant increase in demand for Macbooks in India.
Apple's revenue reportedly increased by 13 percent in the 12 months starting March 2024, compared to $8 billion in sales in India from the previous year. Over the past three years, its revenue in India has increased by 1.5 times. India has become a key player in Apple's manufacturing strategy, with 20% of iPhones now produced there.
This revenue growth suggests that consumer interest in Apple's flagship products is rising, even as the Cupertino-based tech company aims to expand its retail presence in India, potentially making it a crucial market for Apple in the future. The tech company is broadening its iPhone production across five factories, including some newly established ones in Tamil Nadu and Karnataka.
It is anticipated that all four models of the upcoming iPhone 17 will be manufactured in India. Apple's retail approach focuses on providing extensive customer support at various touchpoints. Last week, the company opened two new stores in Bengaluru and Pune.
Recognizing that numerous Indian customers might be experiencing its products for the first time, Wendy Beckman, Apple's VP of Retail, mentioned to the media that the store offers interactive experiences where individuals can engage and have the opportunity to learn about and explore our products with assistance from the staff.
