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Apple's India Sales Slow, but Profits Surge in Shifting Market
18 Nov
Summary
- Apple's India sales grew 18% in FY25, slowest pace in 6 years
- Apple India's net profit surged 16% to ₹3,196 crore in FY25
- India became Apple's 4th-largest market globally in 2024
As of November 18, 2025, Apple's India sales for the previous fiscal year (FY25) climbed 18% on-year, marking the slowest pace of growth in six years. This reflects the impact of a larger sales base and greater revenue contribution from older generation iPhones, which are priced lower than the latest launches.
Despite the slower sales growth, Apple India's net profit surged 16% to ₹3,196 crore in FY25. The company, which is the world's second-biggest by market value, did not provide any specific reasons for its India performance in its filings.
Analysts expect Apple's sales growth in India to be in the 10-15% range in the coming years, as older-generation iPhones continue to account for around two-thirds of the company's total smartphone sales in the country. This trend is expected to pull down Apple's overall sales realization in the market.
Interestingly, India became Apple's fourth-largest market globally in calendar year 2024, with shipments reaching a record 12 million units and registering a 35% growth on-year. This underscores the growing importance of the Indian smartphone market for the tech giant.
