Apple reportedly exceeded $10 billion in annual sales in India for the first time in its last fiscal year.
The achievement is all the more remarkable in a country with an average annual salary of less than $3,000 – especially when factoring in that iPhones cost more in India than they do in the USA …
For many years, iPhone sales in India were little more than a rounding error for Apple. That has changed dramatically in recent years as the country’s economy developed, and the company was finally able to open Apple stores in the country.
Bloomberg today reports on the latest milestone.
Revenue grew at double-digit percentage rate in the 12 months through March from about $9 billion a year earlier, according to a person familiar with the matter, who asked not to be identified as the information is private. Apple’s marquee iPhones accounted for a significant majority of the sales, while demand for iPads and MacBooks also rose, the person said.
With a low per-capita income and iPhones being made within India, you might expect pricing to be significantly lower than in the US. In reality, however, high taxes make Apple products more expensive in India than they are in the USA.
Apple sells the entry-level iPhone 17 model at 82,900 rupees ($870) in India, compared with the $799 price tag in the US.
Apple tries to offset this to some degree by partnering with banks for credit card rebates.
Around one in four iPhones are now made in India, but most of them are destined for sale in the US. Apple restructured its logistics in this way in order to avoid US tariffs on products imported from China.
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