Apple's Growth Surges In India: Record Revenue, Retail Expansion Lined Up
Apple
Apple chief executive Tim Cook on Friday said the company saw an acceleration in growth during the April–June quarter, with India delivering revenue records driven by double-digit gains across iPhones, Macs and services.
According to Counterpoint Research, iPhone captured 7% volume share and 23% revenue share during the quarter, with the newly launched iPhone 16 emerging as the top-shipped model in the region. A key highlight of the quarter was a sharp shift in Apple's manufacturing footprint. Cook revealed that the majority of iPhones sold in the US now carry a 'Country of Origin: India" label. Counterpoint estimates show India accounted for 71% of total US iPhone shipments in Q2, up significantly from 31% a year earlier.
Looking ahead, Apple is doubling down on its presence in India. Cook told analysts during the company's third-quarter earnings call that new Apple retail stores will open later this year. Industry executives said at least four new stores are planned in Bengaluru, Mumbai, Pune and Noida, likely to be unveiled next month ahead of the festive season and the launch of new iPhone models.
Apple's Global Q3 Performance (April–June 2025)
Apple's revenue rose 10% year-on-year to $94.0 billion, its strongest Q2 growth in 14 quarters and a new all-time high. Hardware sales grew 8% and services climbed 13%.
Challenges in Wearables
Apple's Wearables, Home and Accessories division continued to face headwinds, with sales of both Apple Watch and AirPods declining. The segment has now been shrinking for two years, with Apple Watch revenue falling for seven straight quarters.
Analysts attribute the slowdown to longer replacement cycles and the absence of an updated Apple Watch SE, which had previously been a major volume driver. To revive growth, Apple may need to launch refreshed Watch models with new health features, AI capabilities and a redesigned SE, especially in emerging markets like India where iPhone adoption is growing rapidly.
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