Apple's India revenue likely to hit $15 billion in FY26, says report

iPhone

Apple is likely to report a revenue of $15 billion in India, its fastest growing market, this fiscal and $11 billion for the year gone by, Mint has reported.

The FY26 figure is a multifold jump from the Rs 67,121.6 crore revenue the tech giant reported in FY24. The sharp rise comes on the back of strong demand for iPhones in India, the report said.

Moneycontrol couldn't independently verify the report.

Apple is also set to become one of top five phone sellers in India. The report cited Tarun Pathak, partner and director at Counterpoint, as saying that 70 percent of the company's revenue in India is derived from iPhones. The company will also have to increase the sales of iPads, AirPods and Macbooks to increase its revenue.

Its attempt to sell Mac laptops to enterprises has further helped the company in India, the report quoted a senior industry consultant as saying. Apple has signed deals with Wipro and Zoho in the past year to offer Macs at their workstations.

Moneycontrol recently reported that Apple is on track to achieve its highest-ever first-quarter iPhone sales in India, with preliminary IDC estimates suggesting more than 3 million units shipped in the first three months of 2025.

This marks a significant jump from 2.21 million iPhones sold in the same period of the previous year.

Apple has ramped up its iPhone production in India to an all-time high, assembling devices worth $22 billion over the past year, Bloomberg recently reported. It reflects the American tech giant’s efforts to reduce its reliance on China and deepen its manufacturing footprint in India.

According to the report, iPhone production in India jumped by around 60 percent over the previous year, with the country now accounting for nearly 20 percent of the iPhones assembled globally. The push comes on the back of India's Production-Linked Incentive (PLI) scheme, which has played a key role in attracting major global electronics manufacturers.