India has proven one of the hardest markets globally for Apple to crack, but things are finally picking up. Annual sales of Apple products reached a new high in India, reports Bloomberg. The company saw a 33% jump in revenue, from $6 billion to $8 billion, according to a source who asked to remain unnamed as the information is not public.
Bloomberg added that the increase signals steady progress in Apple’s efforts to impress customers in the most populous country, where consumers are gradually gaining more purchasing power. The market is still primarily dominated by Chinese brands and Samsung, and only 3.5% of the total 690 million smartphones are iPhones.
The Indian market is one of Apple’s fastest-growing, but sales in the Asian country are still about 2% of the total for the company, which are around $383 billion. Tim Cook, Apple CEO, has been working on improving these numbers, as we saw the first two Apple Stores open in India.
Tim Cook and his team also moved some of the production of the latest iPhones in India. Currently, the iPhone 15 is being manufactured at the Tamil Nadu plant, but the Pro and Pro Max models are still being imported and subjected to higher tariffs.
