Apple's record-breaking double-digit growth continues in India

Apple on Thursday announced financial results for its fiscal second quarter ending March 28, 2026.

The Cupertino-based company posted quarterly revenue of $111.2 billion, up 17 per cent year over year.

“Today, Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment. iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup. During the quarter, Services achieved yet another all-time record, and we were excited to introduce remarkable new products to our strongest lineup ever. That included the addition of the iPhone 17e and the M4-powered iPad Air, along with the launch of MacBook Neo, which is captivating customers all around the world,” said Tim Cook, Apple’s CEO.

As main regions such as the US, China and Europe reach market saturation, Apple has increasingly shifted focus to emerging markets, more so in India, which is the world's fastest and second biggest smartphone market.

For the first time, Apple India has registered double-digit growth in three major segments: iPhones, Mac computers and iPads. Previously, only the iPhone used to be the biggest revenue generator for the company.

Now, thanks to affordable iPads and the all-new MacBook Neo, Apple has registered significant sales in these categories.

"We set March quarter revenue records and grew double digits in every geographic segment, including strong double-digit growth in Greater China and the rest of Asia-Pacific. We also achieved March quarter revenue records in both developed and emerging markets and saw double-digit growth in nearly every emerging market we track, including India. We were also thrilled to open the doors to our sixth store in India. It has been wonderful to see how we’ve continued to grow in India in recent years, part of our larger efforts to connect with even more customers and emerging markets all over the world," said Tim Cook.

Apple first opened its store in Mumbai and Delhi in April 2023, and since then, it has opened an online store and followed by the Apple Store mobile app.

And, over the past 12 months, the iPhone maker opened four new Apple Stores in India, underlining the company's ambition to deepen its foothold in India.

'Over the moon excited about India': Tim Cook

On asked how Apple sees the evolving market like India with a rising middle-class population-- Cook said-- "I think it’s a huge opportunity for us. You know, we’ve been focused on this for a while. It’s the second largest smartphone market in the world and the third largest PC market, and despite doing extremely well there for quite some time we still have a modest share. And so I think that really speaks to the opportunity that we have. There are a lot of people moving into the middle class there, and we’ve got some great products for them both currently and coming. And if you look at the majority of customers in all of our categories from the iPhone to the Mac to the iPad to the Watch, are new to that product there. And so it speaks very well to growing the installed base there. Net-net, I’m over the moon excited about India."

Besides opening the stores, it has aggressively increased the production of iPhones in India. Now, most of the iPhones shipped to the West and the US are assembled in the subcontinent by its partners -- Tata Electronics, Foxconn. They have setup massive units in Karnataka (Bengaluru & Kolar) and Tamil Nadu.

Despite the global trade disruptions over the Middle East crisis, it recorded 33 per cent growth in shipments, mainly thanks to the central government's Production-Linked Incentive (PLI) Scheme.

For the first-ever Apple iPhone shipments' value hit a record Rs two lakh crores (approx. $24 billion+) in fiscal year 2026, compared to 1.5 lakh crore in the previous year.

Besides iPhones, Apple has been ramping up AirPods production and has plans to assemble iPads in India.

Later this year, Tim Cook is set to make way for John Ternus to take over as the new CEO of the company on September 1, 2026. And, as they mark the 50th anniversary, Apple is expected to unveil its first-ever foldable iPhone in the same month.

Also, it has plans to foray into consumer electronics segments, including smart glasses, smart home Internet-of-Things (IoT) hub, smart door cameras and more.

Apple iPhone 17 Pro Max.

Here's the breakdown of fiscal 2026 second-quarter revenue from each of Apple's products:

Total revenue of hardware and services: $111.2 billion, registering 17 per cent growth over the previous year

iPhone: $56.99 billion, a record 22 per cent year-over-year growth in revenue. It accounts 51 per cent of the total revenue for the company

Services (Apple Care, Apple TV, Music and more): All-time $30.98 billion, 14 per cent year-over-year.

Mac computers: $8.4 billion, six per cent up in revenue year-over-year

Wearables (Watches & AirPods), Home and Accessories: $7.9 billion, five per cent up year-over-year growth

iPad: $6.91 billion, eight per cent year-over-year growth

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