Apple Inc. Revenue in India in the last fiscal year ending in March increased by about 33% to almost $8 billion. This is reported by Bloomberg with a link to an informed source.
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Apple does not disclose data on sales in individual countries in its reporting, but is obliged to provide it to local authorities.
According to the source, more than half of Apple's revenue in India came from smartphone sales. It's a positive signal for the company as it seeks to win market share in the world's most populous country from cheaper Chinese brands.
There are approximately 690 million smartphones in use in India, and only 3.5% of them are made by Apple, according to Counterpoint. Research.
Apple shares rise in price by 2.1% in preliminary trading on Monday.
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