Key Highlights

  • Big milestone: Apple India’s revenue crossed Rs 1 lakh crore for the first time, rising 31% to Rs 1,03,853 crore in FY26.
  • Profit surge: Net profit jumped 66% to Rs 5,311 crore from Rs 3,196 crore.
  • iPhone growth: iPhone volumes rose 24% in FY26, up from 11% growth a year earlier.
  • Slow market: India’s overall smartphone market grew only 2% in volume, but premium phones grew 12%.
  • Closing in on Samsung: Samsung Electronics India’s FY26 revenue stood at Rs 1.12 lakh crore, though its business is much broader.

Apple has hit a major milestone in one of its fastest-growing markets. Apple India Private Limited’s revenue crossed Rs 1 lakh crore for the first time in the financial year ended March 2026, according to filings with the Registrar of Companies accessed through business intelligence platform AltInfo.

Revenue from operations rose 31 per cent year-on-year to Rs 1,03,853 crore, up from Rs 79,060 crore in FY25. That is a big jump from the 18 per cent growth the company recorded in the previous year.

Profit Grows Even Faster

Net profit rose even more sharply, climbing 66 per cent to Rs 5,311 crore from Rs 3,196 crore. In FY25, profit had grown 16 per cent. This means Apple India kept a bigger share of each rupee it earned, with its net profit margin improving to roughly 5.1 per cent from about 4 per cent.

Growing in a Flat Market

What makes Apple’s numbers stand out is the market around it. According to Counterpoint Research, India’s smartphone market grew just 2 per cent by volume and 9 per cent by value in FY26.

The real growth came from the premium segment, phones priced above Rs 30,000, where volumes rose 12 per cent. Apple rode this wave, with iPhone volumes growing 24 per cent in FY26, more than double the 11 per cent growth in FY25.

Why Indians Are Buying More iPhones

Several trends are working in Apple’s favour. More Indian buyers are choosing to upgrade to premium phones, often helped by easy EMI and financing options. Apple’s own retail stores and stronger local manufacturing have also improved its presence and availability across the country.

Apple vs Samsung

The results bring Apple India close to its biggest rival. Samsung Electronics India reported revenue of Rs 1.12 lakh crore in FY26, only slightly higher than Apple India’s total.

But the comparison is not like-for-like. Samsung’s Indian business includes televisions, home appliances, telecom network equipment and exports, not just phones. Samsung’s mobile phone revenue reportedly fell 1.4 per cent to Rs 81,472 crore in FY26. Apple India’s revenue also includes products beyond the iPhone.

Why It Matters

India has become one of Apple’s most important growth markets. The numbers show a clear shift in Indian consumer behaviour: while fewer people may be buying new phones overall, those who do are increasingly spending more. That trend favours premium brands like Apple and puts pressure on mid-range players.

Industry Impact

Apple’s success could push rivals to strengthen their premium offerings in India. It may also encourage further investment in retail and manufacturing, as companies compete for India’s growing base of high-spending buyers.

What Comes Next

With the festive sales season underway, Apple will hope to carry its momentum into FY27, where the battle with Samsung in the premium segment is likely to get even tougher.

With inputs from IANS.

Key Highlights

  • Big milestone: Apple India’s revenue crossed Rs 1 lakh crore for the first time, rising 31% to Rs 1,03,853 crore in FY26.
  • Profit surge: Net profit jumped 66% to Rs 5,311 crore from Rs 3,196 crore.
  • iPhone growth: iPhone volumes rose 24% in FY26, up from 11% growth a year earlier.
  • Slow market: India’s overall smartphone market grew only 2% in volume, but premium phones grew 12%.
  • Closing in on Samsung: Samsung Electronics India’s FY26 revenue stood at Rs 1.12 lakh crore, though its business is much broader.

Apple has hit a major milestone in one of its fastest-growing markets. Apple India Private Limited’s revenue crossed Rs 1 lakh crore for the first time in the financial year ended March 2026, according to filings with the Registrar of Companies accessed through business intelligence platform AltInfo.

Revenue from operations rose 31 per cent year-on-year to Rs 1,03,853 crore, up from Rs 79,060 crore in FY25. That is a big jump from the 18 per cent growth the company recorded in the previous year.

Profit Grows Even Faster

Net profit rose even more sharply, climbing 66 per cent to Rs 5,311 crore from Rs 3,196 crore. In FY25, profit had grown 16 per cent. This means Apple India kept a bigger share of each rupee it earned, with its net profit margin improving to roughly 5.1 per cent from about 4 per cent.

Growing in a Flat Market

What makes Apple’s numbers stand out is the market around it. According to Counterpoint Research, India’s smartphone market grew just 2 per cent by volume and 9 per cent by value in FY26.

The real growth came from the premium segment, phones priced above Rs 30,000, where volumes rose 12 per cent. Apple rode this wave, with iPhone volumes growing 24 per cent in FY26, more than double the 11 per cent growth in FY25.

Why Indians Are Buying More iPhones

Several trends are working in Apple’s favour. More Indian buyers are choosing to upgrade to premium phones, often helped by easy EMI and financing options. Apple’s own retail stores and stronger local manufacturing have also improved its presence and availability across the country.

Apple vs Samsung

The results bring Apple India close to its biggest rival. Samsung Electronics India reported revenue of Rs 1.12 lakh crore in FY26, only slightly higher than Apple India’s total.

But the comparison is not like-for-like. Samsung’s Indian business includes televisions, home appliances, telecom network equipment and exports, not just phones. Samsung’s mobile phone revenue reportedly fell 1.4 per cent to Rs 81,472 crore in FY26. Apple India’s revenue also includes products beyond the iPhone.

Why It Matters

India has become one of Apple’s most important growth markets. The numbers show a clear shift in Indian consumer behaviour: while fewer people may be buying new phones overall, those who do are increasingly spending more. That trend favours premium brands like Apple and puts pressure on mid-range players.

Industry Impact

Apple’s success could push rivals to strengthen their premium offerings in India. It may also encourage further investment in retail and manufacturing, as companies compete for India’s growing base of high-spending buyers.

What Comes Next

With the festive sales season underway, Apple will hope to carry its momentum into FY27, where the battle with Samsung in the premium segment is likely to get even tougher.

With inputs from IANS.