India's Economic Times: Apple India accounts for 1% of its parent company's global revenue-EEWORLD

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According to Jiwei.com, India's Economic Times recently reported that Apple's development momentum in India is rapid.

Official documents submitted by Apple India to the Indian Company Registrar show that Apple India's revenue in fiscal 2021 increased by 68% to 228.45 billion Indian rupees (about US$3.05 billion), accounting for 1% of Apple's global revenue.

Apple CEO Tim Cook had earlier said that although the parent company's fiscal year spans differently from Apple India's, their revenue in India has also doubled.

According to the latest shipment report from Counterpoint Research, iPhone shipments in India grew 212% year-on-year in the third quarter. Premium smartphones now account for 44% of the Indian smartphone market priced above Rs 30,000 and 74% of the Indian smartphone market priced above Rs 45,000.

India mobile phone brand share in Q3 2021 and Q3 2020 (@Counterpoint)

According to IDC, Apple India has grown faster in the early part of fiscal 2022 (starting April 2021), but no figures were disclosed by either the headquarters or the India division. iPhone sales in India hit a record high in July-September this year, surpassing the previous record of 1.3 million units.

In the third quarter, Xiaomi and Samsung remained the largest smartphone vendors in India, with Xiaomi's Redmi series selling more than 4 million units. Samsung currently still has the largest market share in India, combining smartphones and feature phones.

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