Apple has achieved an all-time high in quarterly revenue in India during Q4 FY26, boosted by strong iPhone sales, record Mac revenue, and expanding services like Apple Pay.
- India delivers Apple’s highest ever quarterly revenue
- Mac and services revenue hit new records in India
- Apple Pay launches with Axis Bank, expanding digital payments
What happened
Apple announced it reached an all-time revenue high in India during the September quarter of FY26, driven by record performance in its iPhone business. The company reported a September quarter revenue record for iPhones and saw a high number of upgraders in India. Mac revenue in India also hit an all-time high alongside a strong performance in the services segment.
Globally, Apple posted a 12% year-over-year increase in revenue to $114.5 billion and an 11.8% rise in net profit to $30.7 billion. Mac revenue grew 24% globally, including double-digit growth in emerging markets such as India and Southeast Asia. Apple’s services business generated record global revenue of $31.6 billion, with India among the markets contributing to highest-ever service revenues.
Why it matters
India is increasingly important as a growth market for Apple, showing strong demand for premium products like iPhones and Macs even as the global economy faces uncertainty. The rising number of iPhone upgrades and first-time Mac buyers reflects greater market penetration and brand loyalty expansion in India’s digitally savvy population.
The launch of Apple Pay in India represents a strategic expansion into the country’s digital payments ecosystem. Partnering with Axis Bank and payment platforms, Apple is tapping into India’s growing preference for digital and contactless transactions, aligning with its global focus on privacy and security in payments. This diversification helps Apple expand recurring revenue streams beyond hardware sales.
What to watch next
Apple’s ability to sustain growth in India will depend on continued demand for hardware upgrades and adoption of its expanding services portfolio, including Apple Pay’s rollout beyond the initial partner bank and supported cards. Monitoring iPhone and Mac upgrade trends will provide insight into user loyalty in this competitive market.
Globally, Apple is forecasting further revenue growth of 7-10% year-over-year for the December quarter of FY26, aiming for a new quarterly record. Investors and market watchers should watch how Apple balances growth in emerging markets like India with challenges such as declining iPad and wearables sales, as well as the integration of evolving digital payment technologies.