Apple India logged $9 billion sales in FY25, just 2% of global pie

India's share in Apple's global production has climbed to 12 per cent, even as the country contributes just a small slice of the tech giant's worldwide revenue

Apple India may have hit a record $9 billion in domestic sales in 2024-25 (FY25), placing it among the country’s top 10 manufacturing multinationals by revenue. But it still accounted for just over 2 per cent of Apple’s global revenues of $416.1 billion, according to filings in the US and India.

 

Yet India’s role in iPhone production tells a different story.

 

One in every five iPhones made globally in FY25 came out of India, and the country contributed 12 per cent of Apple’s global production value. Apple also began assembling the high-end Pro and Pro Max models in India for the first time.

 

To frame the size of the domestic market: the Americas brought in $178.4 billion in FY25 — nearly 43 per cent of Apple’s global revenue — and a growing share of those iPhones were shipped from India. Europe followed with $111 billion (26.7 per cent). Greater China contributed $64.3 billion (15.4 per cent), Japan 6.9 per cent with $28.7 billion, and the rest of Asia-Pacific (excluding India, China, and Japan) added $24.7 billion, or 5.91 per cent.

 

Apple’s India revenues have climbed nearly eightfold over the past decade, driven mainly by iPhones, MacBooks, iPads, AirPods, and accessories. Services remain a small single-digit share of total sales.

 

iPhones made up roughly $6 billion of Apple India’s FY25 revenue — over 65 per cent of its $9 billion top line. That’s far higher than the global mix, where iPhones contributed $209 billion, or 50 per cent of Apple’s total sales.

 

Apple’s India-based production had a freight-on-board value of $22 billion in FY25, with $17.5 billion of the value exported.

 

Much of Apple’s sales force in India stems from local iPhone manufacturing, which avoids the 16 per cent Customs duty applied to fully imported phones. Even so, iPhones remain pricier in India than in markets like the US and China, due to the 18 per cent goods and services tax, a 6–7 per cent Customs duty on components, and high retailer commission margins — a cost layer largely absent in the US or Dubai.

 

In those markets, Apple sells most of its phones through its own stores or via bundled plans with telecommunications operators such as AT&T and Verizon.