Apple posts record revenue in India in September quarter; iPhone upgrades, Mac and services hit new highs

Apple reported its highest-ever quarterly revenue in India in the September quarter, with its Mac and services businesses also touching record levels. The company also saw its highest number of iPhone upgraders in the country for a September quarter.

India remained one of Apple's key growth markets during the period, as the Cupertino-based technology major reported September-quarter revenue records across the Americas, Europe, Greater China and the rest of Asia-Pacific.

"We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India," Apple CEO John Ternus said during the company's earnings call.


The company also saw a record number of Indian customers upgrading their iPhones during the quarter. Globally, Apple recorded its highest-ever number of iPhone upgraders for a fiscal year, with September-quarter records also reported in the US, Mainland China and India.

iPhone revenue worldwide rose 17% year on year to $57.6 billion during the quarter, despite supply constraints and foreign exchange pressures.

Apple has also expanded its payments business in India, recently launching Apple Pay in partnership with Axis Bank. Ternus said the service was designed to offer customers a secure and seamless payment experience.

Apple Pay is now available in more than 90 markets worldwide, he added.

The company's Mac business also turned in a strong performance. Chief Financial Officer Kevan Parekh said global Mac revenue climbed 24% to $10.8 billion, with India and Southeast Asia both recording their highest-ever revenue from the segment.

Services was another bright spot for Apple in India. The business posted record revenue in the country, while global services revenue grew 10% year on year to $31.6 billion, an all-time high.

Parekh said Apple had recorded its highest-ever services revenue in most of the markets it tracks, including emerging economies such as India and Latin America.

(With PTI inputs)