Apple’s big India push is paying off in billions

For the last few months, there’s been no lack of news involving Apple and India, from retail to production and everything in between. Now, according to Bloomberg, Tim Cook’s newest bet is starting to pay off. Here are the details.

A surge years in the making

According to Bloomberg’s sources, Apple saw a 13% bump in revenue from India in the 12 months ending in March, thanks in part to its recent retail expansion in the country.

Apple has been aggressively increasing its retail footprint in the country. Just this week, two new locations opened their doors for the first time, with more underway.

Recent grand-openings aside, Apple’s revenue rose from $8 billion to $9 billion in the 12 months through March, with iPhones leading the surge, followed by MacBooks, which also saw a significant increase in demand.

Another factor that helps explain Apple’s newfound success in India comes from within, as reported by Bloomberg:

The US company in 2023 reshuffled management of its international businesses, making India its own sales region due to the growth potential the market offers with its rising incomes and a burgeoning middle class. IPhones, viewed by many Indians as a status symbol, currently account for about 7% of the local smartphone market, according to Tarun Pathak of Counterpoint Research.

The report also notes that much of the recent iPhone revenue growth partly comes from Apple’s aggressive retail strategy, “by offering student discounts, trade-ins on older devices, and by partnering with banks for credit card rebates.”

Of course, the company also offers most of these benefits in other countries, but in India they’ve clearly proven particularly effective since Apple renewed its interest in the country.

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