Apple India revenue crosses ₹1 lakh crore in FY26, profit surges 66%
Synopsis
Apple India has crossed ₹1 lakh crore in annual revenue for the first time, with profits up 66% in FY26 — outpacing a market that grew just 2% in volume. iPhone volumes jumped 24%, and Apple's smartphone revenues have effectively caught up with Samsung's handset business in India, marking a seismic shift in the country's tech landscape.
Key Takeaways
Apple India revenue crossed ₹1 lakh crore for the first time, reaching ₹1,03,853 crore in FY26 — a 31% year-on-year jump.
Net profit surged 66% to ₹5,311 crore in FY26 , up from ₹3,196 crore in FY25. iPhone volumes in India grew 24% in FY26, against a broader smartphone market that expanded just 2% in volume terms.
India's premium smartphone segment (above ₹30,000 ) grew 12% in volume — the key driver of Apple's outperformance.
Samsung Electronics India reported total revenue of ₹1.12 lakh crore , though its mobile revenue reportedly fell 1.4% to ₹81,472 crore in FY26.
Data sourced from Registrar of Companies filings accessed via business intelligence platform AltInfo .
Apple India Private Limited crossed the ₹1 lakh crore revenue milestone for the first time in FY26, posting a sharp acceleration in both sales and profitability as Indian consumers continued their shift toward premium smartphones. The milestone underscores how Apple has transformed India from a fringe market into one of its most consequential growth engines globally.
The Numbers
Revenue from operations rose 31% year-on-year to ₹1,03,853 crore in the financial year ended March 2026, up from ₹79,060 crore in FY25, according to filings submitted to the Registrar of Companies and accessed through business intelligence platform AltInfo. That growth rate is significantly higher than the 18% expansion recorded in the prior financial year.
Net profit surged 66% to ₹5,311 crore in FY26, compared with ₹3,196 crore a year earlier. In FY25, Apple India's profit had grown by just 16% — making the latest jump a marked acceleration in margin delivery.
The Premium Shift Driving Growth
Apple's outperformance stands in contrast to a broadly sluggish smartphone market. According to Counterpoint Research, India's overall smartphone market grew just 2% in volume and 9% in value terms in FY26. The premium segment — devices priced above ₹30,000 — was the clear outlier, with volumes climbing 12%.
Apple rode that wave. iPhone volumes in India rose 24% in FY26, more than doubling the 11% growth recorded in FY25. Notably, this acceleration came alongside Apple's expanding domestic manufacturing footprint, with Foxconn and Tata Electronics assembling iPhones in India — a move that has helped the company sharpen pricing and reduce import duty exposure.
Apple vs Samsung: Closing the Gap
The results bring Apple India's revenues within striking distance of Samsung Electronics India, its primary domestic rival. Samsung reported total revenue of ₹1.12 lakh crore in FY26, marginally ahead of Apple's figure. However, direct comparisons are limited: Samsung's business spans televisions, home appliances, telecom network equipment, and exports, whereas Apple India's revenue is concentrated in iPhones, Macs, iPads, and accessories.
Critically, Samsung's mobile phone revenue reportedly declined 1.4% to ₹81,472 crore in FY26 — meaning Apple's smartphone-focused business has effectively caught up with, and likely surpassed, Samsung's handset revenues in India.
What This Means for India's Tech Market
This comes amid growing evidence that India's smartphone consumption is bifurcating: a large but slow-growing mass market below ₹15,000 on one side, and a rapidly expanding aspirational tier above ₹30,000 on the other. Apple is the primary beneficiary of the latter. The trajectory also carries geopolitical significance — as Apple deepens its India manufacturing base partly to hedge against US-China trade tensions, domestic revenue growth reinforces the commercial case for continued investment.
With Apple's India revenue already above ₹1 lakh crore and iPhone volumes growing faster than the market, the company is well-positioned to widen its lead in the premium segment in FY27.
Point of View
And Apple owns that tier. What mainstream coverage understates is the competitive implication for Samsung: while its total India revenues are nominally higher, its handset business is now smaller than Apple's by revenue — a reversal few would have predicted five years ago. The deeper story is structural: Apple's India manufacturing expansion, driven partly by US-China trade friction, is creating a virtuous loop where local production reduces costs, prices sharpen, volumes rise, and revenues compound. That loop is only getting tighter.
NationPress
20 Oct 2026
Frequently Asked Questions
What is Apple India's revenue in FY26?
Apple India Private Limited posted revenue from operations of ₹1,03,853 crore in FY26, crossing the ₹1 lakh crore mark for the first time. This represents a 31% year-on-year increase from ₹79,060 crore in FY25, according to Registrar of Companies filings accessed via AltInfo.
How much did Apple India's profit grow in FY26?
Apple India's net profit surged 66% to ₹5,311 crore in FY26, up from ₹3,196 crore in FY25. This is a sharp acceleration from the 16% profit growth recorded in the previous financial year.
Why did Apple India grow so fast despite a slow smartphone market?
India's overall smartphone market grew just 2% in volume in FY26, but the premium segment — devices priced above ₹30,000 — expanded 12% in volumes. Apple's iPhone volumes grew 24%, significantly outpacing the broader market, as consumers increasingly opted for higher-priced devices.
How does Apple India compare to Samsung India in FY26?
Samsung Electronics India reported total revenue of ₹1.12 lakh crore in FY26, marginally ahead of Apple's ₹1,03,853 crore. However, Samsung's revenue includes TVs, home appliances, and telecom equipment. Samsung's mobile phone revenue reportedly declined 1.4% to ₹81,472 crore, meaning Apple's smartphone-focused business has effectively drawn level with Samsung's handset revenues in India.
What is driving Apple's growth in India beyond demand?
Beyond rising consumer demand for premium smartphones, Apple has expanded domestic manufacturing through partners such as Foxconn and Tata Electronics. Local assembly reduces import duty exposure and supports competitive pricing, which analysts say has contributed to the acceleration in iPhone volumes in FY26.
