Apple is growing big in India with its business crossing the Rs 1 lakh crore revenue mark in FY2026. Both sales and profits grew at a faster pace than the previous year. The performance came even as the broader market slowed, reflecting continued demand for the company’s products, particularly its iPhones.Apple India Pvt Ltd reported revenue from operations of Rs 1,03,853 crore for the year ended March 2026, which is a 31% increase from Rs 79,060 crore in FY25.The figures are based on company filings with the Registrar of Companies accessed through business intelligence platform AltInfo. Samsung, Apple’s biggest competitor in the Indian market, reported a 1.4% fall in mobile phone revenue to Rs 81,472 crore in the last fiscal year, according to an ET report.Apple’s revenue growth in India also picked up considerably from the 18% expansion recorded in the previous financial year.The increase in profitability outpaced revenue growth. Apple’s India net profit climbed 66% to Rs 5,311 crore in FY26, compared with Rs 3,196 crore a year earlier. In FY25, profit had grown by 16%.The company’s filings did not explain what drove the sharper growth in revenue and earnings. Apple India had not responded to an email seeking comment by press time on Monday.
Analysing trends
Counterpoint data shows that India’s smartphone market expanded 2% in volume terms and 9% in value terms in FY26. Phones priced above Rs 30,000 recorded the strongest growth among market segments, with volumes rising 12%. Apple’s own volume growth more than doubled, reaching 24% in FY26 from 11% in the preceding financial year.“Apple’s growth in India is being driven by the steady shift 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,” Shubham Singh, research analyst at Counterpoint Technology Market Research told ET.Singh said Apple is benefiting from the shrinking price difference between iPhones and premium Android handsets at a time when smartphone prices across brands have risen. Apple’s stronger brand appeal and tightly integrated ecosystem are helping it capitalize on this trend.Apple’s strong showing comes even as competition between it and Samsung has intensified in India. Both companies have reported revenues of a comparable scale, although the businesses covered by their respective figures differ considerably.Samsung Electronics India recorded revenue of Rs 1.12 lakh crore in FY26. However, its operations span several categories beyond smartphones, including televisions, household appliances and telecom network equipment, as well as exports. Despite its broader portfolio, Samsung’s domestic smartphone business registered a slight decline.Apple India’s reported revenue, on the other hand, does not reflect the entire scale of iPhone production and exports originating in India.These exports are handled by Apple’s contract manufacturers, with the resulting sales recorded through multiple overseas entities within the Apple group rather than being accounted for in Apple India’s books.