Apple's India revenue crosses Rs 1 lakh crore for the first time, profit jumps 66%

Indians seem to be in love with Apple products. According to latest filings with the Registrar of Companies for the financial year ending March 2026 (FY26), Apple’s annual revenue crossed Rs 1 lakh crore for the first time driven by strong demand for marquee products like the iPhone. The performance comes even as India is gradually warming up to premium devices with brands like Apple taking ample measures to ensure availability at a time when component shortage and other factors have brought uncertainty and changing market dynamics.According to data shared by Apple (and first reported by the Economic Times), in FY26, Cupertino’s India revenue from operations rose 31 per cent year-on-year to Rs 1,03,853 crore, up from Rs 79,060 crore in FY25. Profit grew even faster, jumping 66 per cent to Rs 5,311 crore from Rs 3,196 crore a year earlier, when it had risen 16 per cent. The data suggests Apple’s business in India is on an upward trajectory, with profit growing even faster than revenue.On the other hand, its biggest rival, Samsung posted a decline of 1.4 per cent in phone revenues to Rs 81,472 crore last fiscal. However, it's worth noting that Samsung sells several other products in India apart from smartphones, including TVs and home appliances.Due to the ongoing memory and RAM crisis, smartphone prices are increasing across the industry. Counterpoint Research data shows that India’s overall smartphone market grew 2 per cent in volume and 9 per cent in value in FY26. The premium segment, which comprises phones priced above Rs 30,000, grew 12 per cent by volume. Apple’s own volume growth reportedly rose to 24 per cent, up from 11 per cent in FY25. Despite this industry-wide price surge, several key factors have driven Apple’s remarkable growth. Reasons behind Apple’s growthOne of the factors driving Apple's growth could be its retail expansion, which helps distribute its products beyond major urban centres into Tier 2 cities. Financing options such as No-Cost EMIs and consumer-centric loans also contributed to its rise. For instance, the company's partnership with major Indian banks and fintech platforms has broken a Rs 80,000–Rs 1,30,000 device into manageable monthly instalments of Rs 3,000–Rs 6,000. This broader accessibility may have allowed mainstream buyers to enter the Apple ecosystem.E-commerce platforms such as Amazon and Flipkart sometimes offer aggressive trade-in programs, such as exchange bonuses on old devices. This can bring down the effective price of a phone like the iPhone. - Ends