Apple has announced plans to open four more flagship stores in India in the coming months. The tech giant reported record-breaking revenue from the Indian market for the September 2024 quarter, fuelled by strong iPhone sales, according to CEO Tim Cook.
On Apple’s latest earnings call, Cook shared that iPhone sales grew in every region, setting new records globally. India, however, stood out, with Apple achieving an all-time high in revenue. “We continue to be excited by the enthusiasm we’re seeing in India,” Cook said, revealing the company’s intent to open more stores in the country after already launching two at locations .
Apple iPads see record sales
Beyond iPhones, Apple also saw strong sales of iPads in India, which reached a record high in the quarter. CFO Luca Maestri highlighted that over half of the customers buying iPads in India this quarter were new to the product. Maestri also pointed to double-digit growth in other emerging markets, including Mexico and the Middle East.
Apple ranks second in India’s smartphone market in terms of revenue
Apple now holds a 22 per cent share of India’s smartphone market by value, ranking second only to Samsung, according to Counterpoint Research. The recent launches of iPhone 15 and iPhone 16 ahead of the festive season also boosted Apple’s position. Samsung was marginally ahead Apple, with a 23 per cent value share, with the help of its flagship Galaxy S series coupled with the value-driven portfolio that includes, A-series, M-series and F-series.
Overall, Apple reported $94.9 billion in revenue for the September quarter, up 6 per cent from last year. iPhone revenue alone grew 6 per cent globally. Moving forward, Apple expects single-digit growth, supported by gradual releases of new AI features across its products.
The Indian smartphone market is increasingly focusing on higher-priced models, driven by a trend toward premiumization. This shift is supported by aggressive EMI offers and trade-in programs, making premium devices more accessible to consumers.