Apple has reported its best-ever quarter globally as it approaches its 50th anniversary, with worldwide revenue reaching $143.8 billion. In India, the company achieved record quarterly revenue for the 15th consecutive time, marking a significant milestone in its growth trajectory.
Beyond the iPhone: A Diversified Growth Strategy
While iPhones remain Apple's primary revenue driver, the company's success in India is increasingly fueled by other products and services. Chief Executive Officer Tim Cook highlighted record revenue growth for Apple's subscription services, Mac computers, and iPad tablets in the Indian market for the first time.
This shift reflects Apple's growing maturity in India, where a large base of existing customers is now exploring the broader Apple ecosystem. After six years of sustained double-digit growth in iPhone sales, analysts believe this diversification is crucial as iPhone growth rates eventually slow.
Record Performance Across Product Categories
"We did set a quarterly revenue record during December. And to go a little further down, we set quarterly revenue records on iPhone and Mac and iPad, and an all-time revenue record on services. So, it was a terrific quarter in India," Cook stated during an analyst call.
Kevan Parekh, Apple's Chief Financial Officer, noted that the iPhone active installed base reached an all-time high globally, with India among the countries setting new records for upgraders. He mentioned "strong double-digit growth in the installed base in India," though specific user numbers weren't disclosed.
The Halo Effect and Market Opportunity
Analysts point to a clear "halo effect" where Apple's growing user base is driving sales across its product ecosystem. Tarun Pathak, Research Director at Counterpoint India, explained: "Apple exited 2025 with its highest-ever smartphone market share, with 9% market share by volume and 28% market share by revenue. The iPhone 16 was India's top-shipped model. Now, we're seeing Apple's ecosystem strengthen, as the all-time-high installed base of customers is ripe for ecosystem cross-selling."
Cook emphasized India's strategic importance, calling it "the second-largest smartphone market in the world, and the fourth-largest PC market." He added: "We still have, despite a very nice growth history, a modest share there—and so we think there is a huge opportunity for us there. And we could not be more excited about it."
Exponential Growth Trajectory
Apple's journey in India has been remarkable. According to Counterpoint data, the company held a mere 0.9% market share by volume in 2019, selling approximately 1.5 million iPhones that year. Projections for 2025 indicate sales of 15.5 million iPhones, representing a tenfold increase over seven years.
This exponential growth has created a substantial customer base that's now purchasing Macs, iPads, and subscription services. Apple's services portfolio in India includes Apple Music, iCloud storage, Apple TV for video streaming, Apple Arcade for gaming, and Fitness+ for wellness activities.
Infrastructure Expansion and Future Prospects
Cook revealed plans to open a physical retail store in India this year, following the addition of three stores across Bengaluru, Pune, and Noida in 2025. This retail expansion supports Apple's growing presence and customer engagement in the country.
Prabhu Ram, Vice-President of Industry Research Group at CyberMedia Research, observed that Apple's performance "reflected strengthening underlying demand and increasing ecosystem depth." He added: "Apple remains in the early stages of its India journey, with substantial headroom for growth. This momentum is being supported by both new customer additions and a growing base of loyal users, with consumer engagement increasingly extending beyond device purchases to broader ecosystem adoption, reinforcing Apple's long-term growth potential in the market."
Global Context and Financial Performance
Globally, iPhone sales contributed over $85 billion to Apple's $143.8 billion quarterly revenue, while services reached $30 billion. In India, analysts estimate Apple generated $10 billion in revenue during 2025, though the company doesn't disclose country-specific figures.
Cook noted that "the majority of customers that are buying iPhones and Mac and iPad and Watch are all new to that product," indicating significant market penetration opportunities remain. This combination of new customer acquisition and ecosystem deepening positions Apple for sustained growth in one of the world's most important technology markets.
