In the financial year that ended in March 2026, Apple's Indian unit crossed the Rs 1 lakh crore revenue mark for the first time, with sales and earnings both rising at a quicker pace than in FY25.
Filings made by Apple India Pvt Ltd with the Registrar of Companies, accessed through business intelligence platform AltInfo, show revenue from operations of Rs 1,03,853 crore in FY26. That is 31 per cent higher than the Rs 79,060 crore it earned in FY25, and a big step up from the 18% growth recorded a year earlier.
Earnings grew even more sharply. Net profit rose 66% to Rs 5,311 crore, compared with Rs 3,196 crore in FY25, a year in which profit had increased by 16 per cent.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
ALSO READ | Rising Royalties, Falling Export Revenue Dent Samsung India's FY26 Profit By 36%
Growing In A Slowing Market
The company managed this while India's overall smartphone market barely grew. Counterpoint figures show the market expanded by just 2% in volume and 9% in value in FY26. The best-performing segment was phones costing more than Rs 30,000, where volumes rose 12 per cent. iPhone volumes, meanwhile, climbed 24%, compared with 11% growth in FY25.
What's Driving the Growth
According to Shubham Singh, research analyst at Counterpoint Technology Market Research, Indian buyers are steadily moving towards premium smartphones.
“Strong brand aspiration, wider retail reach, deeper distribution across tier-2 and beyond markets, along with easy financing options are making iPhones accessible to a much larger set of buyers,” Singh was quoted as saying by The Economic Times.
He added that rising prices across brands have narrowed the gap between iPhones and premium Android phones, helping Apple thanks to its brand appeal and ecosystem.
ALSO READ | New UPI Fees May Unlock $1.1 Billion Revenue Pool For Payment Apps; GPay, PhonePe To Lead
How It Compares With Samsung
The results also put Apple on a similar revenue footing to Samsung, its biggest competitor in India, though the two figures cover very different businesses. Samsung Electronics India reported FY26 revenue of Rs 1.12 lakh crore, but that total includes TVs, home appliances, telecom network gear and exports. Its mobile phone revenue reportedly fell 1.4% to Rs 81,472 crore.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
