Expansion in India is fast for Apple Inc. as the country now adds significantly to the tech giant’s iPhone production. Data from The Trade Vision (TTV) reveals that iPhones made in India accounted for 14–15% of Apple’s global production in fiscal year 2024, a share expected to rise to 26–30% by 2027. The strategic initiatives behind this are the inclusion of Karnataka-based Aequs Group in Apple’s supply chain.
However, while India’s production footprint is growing, its contribution to Apple’s global revenue remains comparatively modest. For fiscal year 2024, Apple reported record revenue of $8 billion from India, which was just 2% of its total global earnings of $391 billion. Greater China, which includes Mainland China, Hong Kong, Macau, and Taiwan, generated $66.95 billion, accounting for 17% of Apple’s revenue. Projections state that India’s revenue could cross $11 billion by FY 2026, while closing the revenue gap to China would take 10 to 15 years.
Apple’s added production capacity in India is strategic significance. The beginning of the transition of Apple production from China to India has reportedly started as early as last year 2020 with the plan to diversify production while geopolitical tensions accelerate and, at the same time, create a strong exporting hub; 70 percent of iPhones produced in India these days are exported and will supposedly grow to 80-85 percent with higher levels of production. India is the world’s second-largest smartphone market, but it has low penetration of iPhones.
The device comprises only 6–7% of the total smartphone market. The remaining 94% is dominated by Android devices from brands like Samsung, Oppo, and Xiaomi. Apple’s revenue from India is boosted by strong sales of iPhones, MacBooks, and iPads. The iPhones alone contribute 65–70% of Apple’s Indian sales.
Low per capita income in India would prove challenging for the growth of Apple because China has a fivefold per capita income, which also remains the second biggest iPhone market after the United States. But, on the other hand, the massive consumer base in India will remain the best long-term growth prospects with Apple increasing its market share by scaling operations in the country.
