In fiscal 2026, Apple’s business in India crossed the Rs 1 lakh crore revenue mark. Despite the downturn in the market, demand for the iPhone maker’s products remained strong, leading to increased sales and a sharp jump in profits. According to documents submitted to the Registrar of Companies by business intelligence platform ‘AltInfo’, Apple India Pvt Ltd’s operating income grew 31 percent year-on-year to Rs. 1,03,853 crore, its highest domestic mobile phone revenue in FY2025. Competitor, Samsung, fell 1.4% during the last financial year to Rs. 81,472 crores. The growth rate of Apple’s business in India was much higher than the 18 percent growth recorded in the previous financial year.

Retail expansion

The increase in profits was even more spectacular. The company’s net profit increased by 66 percent in FY2026 to Rs. 5,311 crore, which last year was Rs. 3,196 crore (an increase of 16 percent then). The company has not clearly mentioned the reasons for this sharp jump in revenue and profit in its documents.

Shubham Singh, research analyst at Counterpoint Technology Market Research, said in a media report that Apple’s growth in India is due to people’s increasing inclination towards premium smartphones. More and more buyers are now able to purchase iPhone due to strong brand value, extended retail reach, better distribution network in tier-2 and smaller cities and easy financing options.

He said that in the current market where prices of all phones have increased, the price gap between Android flagship phones and the iPhone has narrowed. This is working in Apple’s favor, as its brand and ecosystem are very strong. According to Counterpoint, India’s total smartphone market is expected to grow by 2 percent in volume and 9 percent in value in FY 2026. The premium segment (which includes handsets priced above Rs 30,000) was the fastest growing segment, registering a growth of 12 percent on a volume basis. Apple’s volume growth increased from 11 percent in FY2025 to 24 percent in FY26.

Tech companies will collide

The demonstration comes amid growing competition between Apple and Samsung in India. Both these tech giants have almost the same level of revenue, although the nature of their business is different. Samsung Electronics India has set a target of Rs. 1.12 lakh crore revenue was reported. But, the company’s portfolio is not limited to just smartphones. This includes televisions, home appliances, telecom network equipment and also exports. Samsung’s smartphone business in India declined slightly.

At the same time, Apple India’s reported revenue does not reflect the full scale of iPhone production and exports from the country. Such exports are carried out by the company’s contract manufacturers, and sales are not recorded through Apple India’s accounts but through various units of the Apple Group located abroad.