Apple Sees India as Huge, Underpenetrated Market

Tim Cook, CEO of Apple Inc., has expressed significant optimism regarding India's market potential, describing it as a "huge opportunity" and stating he is "over the moon excited" by the company's performance there.

India currently stands as the world's second-largest smartphone market and the third-largest PC market. Despite Apple's strong performance, Cook noted that the company's market share remains modest, underscoring the substantial growth prospects ahead.

In the second quarter of FY26, Apple reported a 17% year-on-year increase in revenue, reaching $111.2 billion. India was a standout performer, contributing double-digit growth and setting revenue records for the March quarter. Cook attributed this success to structural demand drivers, including a growing middle class.

Further emphasizing the opportunity, Cook highlighted that the majority of Apple's customers in India are new to the brand across all product categories, including iPhone, Mac, iPad, and Apple Watch. This trend creates a strong foundation for expanding Apple's installed base.

Apple is actively deepening its retail presence in India, opening its sixth store in the country earlier this year, including a second Mumbai outlet. This expansion is part of a broader strategy to connect with more consumers in emerging markets. CFO Kevan Parekh confirmed iPhone revenue grew 22% year-on-year, with significant contributions from India's double-digit growth. Mac and iPad sales also showed strong traction in India.

Looking ahead, Apple is preparing for a leadership transition, with Tim Cook set to step down as CEO on September 1, 2026. John Ternus will assume the CEO role, aiming to accelerate growth in markets like India.