Apple India has posted a record annual revenue of $8 billion, the most the company has ever done in a single year. This is a growth of 33% over the previous year's $6 billion. Apple is slowly shifting its manufacturing to India from China. The company also opened two flagship stores in the country in Mumbai and Delhi. According to Reuters, more than half of the sales in India came from iPhones. As the purchasing power of Indian consumers is going up, more and more people are opting for an iPhone in the country. In terms of overall sales volume, Apple is still not the market leader when it comes to smartphones. But in the ultra-premium category, it is Apple which sells the most devices in India.
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Apple is also planning to open more company-owned retail stores in the country. Further, users can also order from Apple's Online Store in India if they want to customise products. Apple still has a lot of room for growth in India. In China, during the last fiscal, Apple's revenues were $72.6 billion. This is 9 times more than what Apple registered in India.
The Indian government wants Apple to manufacture more products in India apart from iPhones. Currently, Apple only assembles iPhones in India. But in the future, we may see the company even manufacturing components here. New facilities from Apple manufacturers are being set up in the country.
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Apple's growing focus in India also comes at a time when the tensions between the US and China are growing. The Cupertino tech giant wants to reduce its reliance on China for manufacturing its most essential product - iPhones. The numbers should surely grow for Apple in India, especially if it launches a good-value iPhone SE in the country.
