Apple Inc's revenue hits all-time India high in September quarter

Kolkata: Apple Inc said the company posted an all-time record revenue in India in the September quarter driven by upgradation demand for iPhones, Mac computers and services business.

Talking to analysts after announcing the company’s July-September earnings, the newly appointed chief executive John Ternus said the company set September quarter revenue records in both developed and emerging markets along with an all-time record in India.

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“We also set a September quarter record for upgraders worldwide as well as in the US, mainland China and India, helping to deliver our best fiscal year ever for upgraders globally,” he said. For the records, Apple has also set September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific.

Apple’s chief financial officer Kevan Parekh said the iPhone active installed base grew to an all-time high, and iPhone had a record year for upgraders globally and in several markets, including the US, China Mainland, India and Japan. He quoted a recent survey from World Panel which shows that iPhone was a top-selling model in the US, urban China, India, the UK, Germany, Australia and Japan.

As per a recent report by Counterpoint Research, Apple had a “strong start” to the newly launched iPhone 18 Pro series in India, with initial sales nearly 20% higher year-on-year than those of the iPhone 17 Pro series. “Continued demand for the iPhone 17 lineup points to healthy consumer interest, even as Apple adjusts pricing across its portfolio amid rising memory and component costs,” the report said.

The new iPhone series began selling in the September quarter in India. As per the report, Apple had 8% share of the Indian smartphone market in September quarter by units sold with Samsung leading the market with 17% share. Apple, in fact, lost a one percentage share YoY.

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Apple’s CFO said the company posted record revenues in Mac and services in India. “We saw a double-digit growth in both developed and emerging markets (for Mac), with all-time records in markets like India and Southeast Asia….We (also) set all-time revenue records (for services) in the majority of markets we track, including several emerging markets like Latin America and India,” said Parekh.

Apple had also launched Apple Pay in India with Axis Bank which Ternus said brings a “seamless, safe, and secure way to pay in one of the biggest markets in the world”. With this, Apple Pay is now available in over 90 markets.