Apple India in sweet spot as FY26 revenue crosses Rs 1 lakh crore, profit soars

In FY26, Apple's Indian business achieved a significant milestone by surpassing the ₹1 lakh crore revenue threshold. This growth reflects a robust 31% increase in revenue from operations, reaching ₹1,03,853 crore compared to ₹79,060 crore in the previous fiscal year. Samsung, Apple's main competitor, saw a modest 1.4% decline in mobile phone revenues.

Net profit surged by an impressive 66%, climbing to ₹5,311 crore from ₹3,196 crore in the prior year. The company did not disclose the factors driving this revenue and profit surge. Analyst Shubham Singh from Counterpoint Technology Market Research attributes Apple's success to factors such as the premium shift towards smartphones, enhanced brand appeal, expanded retail availability, deeper distribution in secondary-tier cities, and financing options that make iPhones more affordable for a broader range of customers.

In India's smartphone market, overall volume growth was 2%, and value growth was 9% in FY26. The premium segment experienced the most substantial growth at 12% by volume. Apple's volume growth more than doubled, reaching 24% in FY26 from 11% in the previous year. The competitive landscape features Apple and Samsung, with both companies posting revenues in a similar range, though Samsung's business is diversified with electronics, appliances, and telecom equipment, while Apple's growth is primarily driven by its iPhone line.