Apple's India Sales Surge 33% to $8 Billion
Apple Inc. has reported a 33% increase in annual sales in India, reaching a record $8 billion in the year through March. This significant rise from the previous year's $6 billion highlights the company's success in penetrating the Indian market, where the economy is expanding, and consumers are gaining purchasing power. iPhones accounted for over half of these sales, reflecting the growing demand for Apple's premium products.
The majority of iPhones sold in India are manufactured at the Sriperumbudur plant, located 25 miles west of Chennai in Tamil Nadu. This move aligns with Apple's strategy to diversify its manufacturing and revenue sources beyond China, amid ongoing trade tensions with the US. Despite India contributing only about 2% of Apple's global fiscal-year sales of $383 billion, CEO Tim Cook is actively working to increase this share. Apple did not immediately respond to a Reuters request for comment on these developments.
