Apple India Revenue to Cross $9.5 Billion in 2024, iPhone Shipments to Rise 18-20%

• Apple is projected to increase its revenue by 20 percent, crossing $9.5 billion in 2024, driven by iPhone sales and other categories like MacBooks and iPads.
• Apple's market share in India is expanding due to its premium positioning, brand aspiration, and increased retail presence in tier-2 and tier-3 cities, along with local manufacturing under the 'Make in India' initiative.
• Non-smartphone revenue for Apple in India is expected to reach $1.3 billion in 2024, with iPhone revenues alone around $8.2 billion.
• Apple achieved 10 million iPhone shipments in 2023, with an expected growth of 18-20 percent in 2024, driven by new phone launches and festive season sales.
• Despite challenges like intense competition and reduced seasonal demand, Apple's non-iPhone categories, such as Mac and iPad, showed strong performance, contributing to record revenue in the June quarter.

Source: Moneycontrol