This story was first published on the Benzinga India portal.
By 2026, India is set to overtake both Japan and the UK to become the third largest market for the iPhone The Apple company. AAPLaccording to a report by Counterpoint Research.
Apple witnessed a significant milestone in India in 2023 when iPhone shipments crossed the 10 million mark for the first time, thus leading to revenue generation.
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Interestingly, iPhones made in India contributed 13% to global shipments in 2023, representing an impressive jump from just 1% in 2018. This increase is attributed to Apple’s growing brand affinity in the country, positioning the ‘India as the fastest growing tech giant. market in the coming years.
Looking ahead, Apple’s services business is expected to account for a quarter of its total revenue by 2025, with expectations to surpass the $100 billion mark annually. Apple’s thriving ecosystem, supported by an installed base of more than two billion devices, is driven by services like the Apple Store, Apple Care+ and the AppleOne subscription.
Introduced in 2023, the Apple One subscription is expected to significantly increase Apple Services revenue, underscoring the crucial role the iPhone plays within the Apple ecosystem. As Apple continues to penetrate emerging markets, demand for the iPhone not only strengthens its sales but also drives growth across Apple’s entire product lineup, attracting new users to the iOS ecosystem.
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