New Delhi: Apple India has crossed the Rs 1 lakh crore revenue milestone for the first time, reporting revenue from operations of Rs 1,03,853 crore in the financial year ended March 2026. The company recorded a 31 per cent increase in revenue compared with the previous financial year, while its net profit rose 66 per cent to Rs 5,311 crore, reflecting growing demand for premium smartphones in the Indian market.
The financial figures, based on company filings with the Registrar of Companies, were reported by India Today on October 20, 2026. Apple India’s revenue increased from Rs 79,060 crore in FY25 to Rs 1,03,853 crore in FY26. Its net profit also rose significantly, from Rs 3,196 crore to Rs 5,311 crore during the same period.
The performance comes at a time when India’s overall smartphone market is experiencing relatively modest volume growth, while demand for higher-priced devices is increasing. Apple’s expanding retail presence, financing options and consumer interest in premium smartphones are among the factors supporting its growth.
Apple India records strong revenue and profit growth
Apple India’s financial performance in FY26 marks an improvement over the previous financial year. Revenue growth accelerated to 31 per cent, compared with the 18 per cent increase reported in FY25.
Net profit grew even faster, rising 66 per cent to Rs 5,311 crore from Rs 3,196 crore. The increase in earnings indicates that profit growth outpaced revenue growth during the year.
The figures reflect the performance of Apple India Pvt Ltd and should not be confused with the global revenue of Apple Inc. They also represent the company’s reported financial results rather than the total value of every Apple product sold through all retail channels in India.
The milestone comes as the company continues to expand its presence in a market where smartphones are increasingly used for digital payments, online shopping, communication, entertainment and professional activities.
Apple’s iPhone range remains central to its consumer business. The company’s broader ecosystem, which includes products and services connected to its devices, also contributes to its appeal among customers seeking an integrated technology experience.
iPhone demand grows despite a slower smartphone market
Apple’s growth stands out against the relatively moderate expansion of India’s overall smartphone market.
According to Counterpoint Research figures cited in the report, India’s smartphone market grew by 2 per cent in volume and 9 per cent in value in FY26. The difference between volume and value growth suggests that higher average selling prices and changes in the product mix played a role in the market’s financial expansion.
The premium smartphone segment, consisting of devices priced above Rs 30,000, recorded 12 per cent volume growth during the financial year.
Apple’s iPhone volumes reportedly increased by 24 per cent in FY26, compared with 11 per cent growth in FY25. This acceleration indicates that the company gained momentum in a segment where consumers are increasingly considering more expensive devices.
The figures also suggest that growth in the premium category is becoming an important part of the Indian smartphone market, even as affordability remains a consideration for many buyers.
However, the overall market’s performance shows that the smartphone industry is not expanding uniformly. Different price categories and brands face different levels of demand, making premium-segment growth particularly relevant to Apple’s results.
Retail expansion takes Apple beyond major cities
One factor supporting Apple’s growth is its expanding retail presence across India.
Greater access to physical stores and authorised retail partners can help customers experience products before purchasing them. It can also improve access to after-sales support, product demonstrations and assistance with device selection.
Apple’s distribution network has increasingly extended beyond major metropolitan centres into Tier-2 cities and other markets. This broader reach gives more consumers opportunities to purchase iPhones without relying exclusively on online platforms or travelling to larger cities.
Retail expansion can be particularly important for premium smartphones because buyers may want to compare devices, understand their features and evaluate whether a higher-priced product suits their requirements.
A wider retail network also helps brands reach consumers who may be purchasing an iPhone for the first time.
Nevertheless, retail expansion is only one part of the growth story. Consumer preferences, product launches, pricing, availability and competition also influence sales. The reported financial results do not quantify how much each individual factor contributed to Apple’s revenue increase.
No-cost EMI and exchange offers improve affordability
The price of premium smartphones can be a significant barrier for consumers. Financing arrangements and exchange programmes can reduce the immediate financial burden of purchasing an expensive device.
According to the India Today report, Apple’s partnerships with banks and financial technology platforms have helped make financing options available to Indian buyers. No-cost equated monthly instalment (EMI) schemes and consumer loans can allow customers to spread payments over a specified period.
For a device priced between Rs 80,000 and Rs 1.30 lakh, monthly instalments may make the purchase more manageable for eligible customers, depending on the loan tenure, down payment and terms.
E-commerce platforms such as Amazon and Flipkart also periodically offer exchange bonuses and trade-in programmes. Consumers can exchange eligible older devices to reduce the effective price of a new iPhone.
These options may widen Apple’s potential customer base by making premium devices accessible to buyers who would find a single upfront payment difficult.
However, consumers should check the complete financing terms before purchasing. Offers can differ by bank, card, device, retailer and promotional period. Exchange values also depend on the condition and eligibility of the old device.
Rising smartphone prices create a changing market
The Indian smartphone industry is also dealing with cost pressures linked to memory and RAM availability, according to the report.
Higher component costs can influence manufacturing expenses and retail prices across different brands. When smartphone prices increase, consumers may delay upgrades, choose less expensive models or look for discounts and financing.
At the same time, some buyers may continue to prioritise premium devices because of their preferred operating system, camera capabilities, performance, design or integration with other products.
The reported growth in the premium segment suggests that demand for higher-priced smartphones remained comparatively strong during FY26. Apple’s results reflect its position in this segment, although the available figures alone do not establish how the company will perform if prices rise further or household spending weakens.
For manufacturers, maintaining sales growth while managing component costs and competition will remain important.
How Apple’s performance compares with Samsung
Samsung remains one of Apple’s major competitors in India’s smartphone market. However, the financial figures for the two companies require careful interpretation because their businesses cover different product categories.
According to the report, Samsung’s mobile phone revenue declined by 1.4 per cent to Rs 81,472 crore in FY26.
Apple India’s reported revenue from operations was Rs 1,03,853 crore during the same financial year. However, Samsung sells a wider range of products in India, including televisions, home appliances and other electronics. Its overall Indian business therefore cannot be compared directly with its mobile phone revenue alone.
The figures highlight the importance of examining the scope of each company’s financial reporting before drawing conclusions about market leadership.
Competition between Apple and Samsung is likely to remain significant in the premium smartphone category, where product launches, software features, retail availability and promotional offers influence consumer decisions.
What Apple’s FY26 results mean for India
Apple India’s financial milestone highlights the growing commercial importance of the Indian market for premium technology products.
The combination of 31 per cent revenue growth, a 66 per cent increase in net profit and reported iPhone volume growth of 24 per cent points to a strong financial year for the company’s Indian subsidiary.
Retail expansion, financing options and consumer interest in premium smartphones appear to have supported this performance. At the same time, the wider smartphone market’s modest volume growth indicates that the industry continues to face different demand conditions across price segments.
Whether Apple can sustain this pace will depend on future product demand, pricing, competition, component costs and its ability to reach more consumers across the country.
For now, crossing Rs 1 lakh crore in annual revenue marks a significant milestone for Apple India and underlines the increasing role of premium smartphones in the country’s technology market.