Apple’s annual sales in India increase to nearly $8 Billion

Apple’s annual sales in India have met a gradual increase in numbers and have reached its apex of hitting nearly $8 billion, according to a report from The Economic Times. This figure highlights a rapidly expanding market for the tech giant in the country.

Over the 12 months leading up to March, Apple’s revenue in India increased by approximately 33 percent, rising from $6 billion the previous year. A large portion of these sales is due to the company’s premium iPhones, which have contributed to more than half of the total revenue.

Diversifying Beyond China: Apple’s New Focus on India

This remarkable growth shows the steady progress in Apple’s strategy to attract consumers in India, a market where purchasing power is gradually increasing in line with the country’s economic growth. As the Indian economy expands, more consumers are able to afford high-end products like Apple’s iPhones, driving up sales figures.

AppleApple is increasingly focusing on India to diversify its manufacturing and revenue streams beyond the Chinese market. This shift is partly because of the growing trade tensions between the US and China, which have made the Chinese market more unpredictable.

With this strategy, Apple has been rapidly expanding its manufacturing operations in India. Currently, the company produces several models, including the latest iPhone 15, in the country. However, the higher-spec Pro and Pro Max models are not yet manufactured in India. Most of the devices are assembled in India and are destined for export.

The expansion of manufacturing in India is noticible. Apple’s assembly partners based in India have doubled their production, generating $14 billion worth of iPhones in the last fiscal year. This production increase means that Apple now manufactures up to 14 percent, or roughly one in seven, of its flagship devices in India.

The success of Apple in India shows a trend of multinational companies seeking to tap into the growing consumer market in the country. With its increasing focus on local manufacturing and market expansion, Apple is positioned well to continue its growth in India.

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