{
  "id": 15724428,
  "title": "Apple India Crosses ₹1 Lakh Crore Revenue Mark For First Time",
  "url": "https://urgent.news/2026/10/20/apple-india-crosses-1-lakh-crore-revenue-mark-for-first-time",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T08:28:12.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/tech/apple-india-crosses-1-lakh-crore-revenue-mark-for-first-time"
  },
  "original_language": "en",
  "account": "Apple's India subsidiary has achieved a historic milestone, surpassing the Rs. 1 lakh crore annual revenue mark for the first time in FY2026. The company reported Rs. 1,03,853 crore in revenue from operations, marking a significant 31 percent year-on-year increase from Rs. 79,060 crore in FY2025. Net profit surged even more dramatically, rising by 66 percent to Rs. 5,311 crore, compared to Rs. 3,196 crore in the previous year. This remarkable performance underscores a sharp acceleration for Apple India, where revenue growth accelerated from 18 percent in the prior fiscal year to 24 percent in FY2026, and volume growth more than doubled to 24 percent from 11 percent in the same timeframe. iPhone demand remains the primary driver of this growth, particularly in the premium segment, despite the overall slowdown in India's broader smartphone market. Apple's strategic moves such as expanded retail presence, financing options, and the premiumization of the Indian smartphone market have helped it outpace the broader market. While Apple did not explicitly state the reasons for this acceleration in its filings, industry estimates had suggested that iPhone shipments would rise by about 24 percent year-on-year in FY2026, with Indian revenue reaching over $10 billion. In contrast, Samsung India's mobile phone revenue declined by 1.4 percent to Rs. 81,472 crore in FY2026, down from Rs. 82,595 crore in the previous year. Despite Samsung's broader portfolio including televisions, home appliances, and telecom network equipment, its smartphone business faced challenges from both premium categories and Chinese brands like Vivo, Xiaomi, Oppo, and Realme. Apple CEO John Ternus has previously criticized rival foldable devices as \"cheap and crappy,\" emphasizing the company's commitment to high-quality products. The reported revenue figures for Apple India do not capture the full scope of iPhone manufacturing and exports from the country. These exports are managed by Apple's contract manufacturers, with sales recorded through multiple Apple group entities overseas rather than through Apple India's accounts. Nevertheless, these filings highlight India's growing significance to Apple's global operations. The company's India business has transitioned from steady expansion to a substantially larger revenue base, with profit growth outpacing sales growth, indicating improving operating leverage in the market. Apple's India strategy has increasingly focused on premium demand, physical retail expansion, trade-in and financing programs, and a broader product ecosystem. These efforts have translated into both volume and profitability growth, moving beyond the traditional focus on higher average selling prices. With Samsung's mobile revenue contracting while Apple's expands, the latest filings suggest a shifting competitive landscape in India's premium smartphone market, with Apple gaining ground despite Samsung's broader consumer-electronics footprint across the country.",
  "summary": "Apple's India business has crossed the Rs. 1 lakh crore annual revenue milestone for the first time, reporting Rs. 1,03,853 crore in revenue from operations in FY2026, a 31 percent year-on-year increase from Rs. 79,060 crore in FY2025. Net profit surged even faster, rising 66 percent to Rs. 5,311 crore from Rs. 3,196 crore a year earlier, according to filings with the Registrar of Companies…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Times of India",
        "title": "Big milestone: Apple India revenue tops Rs 1 lakh crore; profit jumps 66%",
        "url": "https://urgent.news/2026/10/20/big-milestone-apple-india-revenue-tops-rs-1-lakh-crore-profit-jumps-66",
        "published": "2026-10-20T07:42:12.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}