Industry Odisha Bureau, Oct 20: Apple India’s revenue crosses ₹1 lakh crore in FY26 as profit soars 66%. Analysts credit rising premium smartphone demand, wider retail reach and easy financing.
Apple India’s revenue crossed ₹1 lakh crore for the first time in FY26. Revenue from operations rose 31.4% to ₹1,03,853 crore in the year to March 2026. Net profit soared 66.2% to ₹5,311 crore, from ₹3,196 crore a year earlier.
The figures come from Registrar of Companies filings, accessed through business intelligence platform AltInfo. They show growth accelerating sharply from the previous year. FY25 revenue stood at ₹79,060 crore, after growth of about 18%. Profit had risen just 16% in that year.
The surge places the iPhone maker in a commercial sweet spot. India’s wider smartphone market, by contrast, barely grew in FY26. Counterpoint Research says industry volumes rose only 2%, while value climbed 9%. Apple’s own smartphone volumes grew 24%, more than double the 11% of FY25.
Volume and revenue growth measure different things. Volume tracks the number of handsets sold. Revenue also reflects pricing, product mix and other Apple devices. Apple India’s revenue grew faster than its smartphone volumes.
The gap points to a clear trend: Indians are buying costlier phones. Handsets priced above ₹30,000 formed the fastest-growing segment, Counterpoint said. Premium volumes rose 12%, well ahead of the overall market. This premiumisation lifts industry value even when unit sales stall.
Apple’s growth is “being driven by the steady shift towards premium smartphones”, said Shubham Singh. He is a research analyst at Counterpoint Technology Market Research. Singh cited strong brand aspiration and wider retail reach. Deeper distribution in tier-2 cities and beyond is also helping, he said. Easy financing options are bringing iPhones within reach of more buyers.
Rising phone prices have also played a role. As all handsets have become costlier, the gap between Android flagships and iPhones has narrowed. Singh said this favours Apple, given its brand pull and ecosystem appeal.
Apple India paid its parent a dividend of ₹3,266 crore in FY26. That was 14.7% higher than the ₹2,847 crore paid a year earlier. The filings did not explain the sharp jump in revenue and profit. Apple India did not respond to emailed queries by press time.
The results sharpen Apple’s rivalry with Samsung in India. Samsung’s Indian mobile phone revenue fell 1.4% to ₹81,472 crore in FY26. Samsung Electronics India’s total revenue was larger, at ₹1.12 lakh crore. However, that figure covers far more than phones. It includes televisions, home appliances, telecom network equipment and exports. Apple’s total India revenue and Samsung’s phone revenue are therefore not like-for-like measures.
Apple India’s accounts also understate the company’s wider footprint in the country. Contract manufacturers assemble iPhones in India for global markets. Those exports are booked through other Apple group entities overseas. They do not pass through Apple India Pvt Ltd’s books.
Even so, the milestone carries weight. Apple India has outpaced a sluggish market by riding the premium wave. Its results show how affordability tools and wider reach are widening premium demand. For now, Apple sits firmly in India’s premium sweet spot.
