Apple set all-time revenue record in India last quarter, says CEO John Ternus

Apple just broke its all-time record for revenue in India. Apple CEO John Ternus announced this feat during the company's latest earnings call. Globally, too, the company posted record annual revenue at $479 billion.

In Short

• Apple posts record revenue in India, says CEO John Ternus
• He claims record number of people upgraded to new iPhones last quarter in India
• Mac also saw record sales in India, says Apple CFO

Apple is seeing a rise in demand in India. During the company’s latest earnings call, CEO John Ternus declared that it had posted record-breaking revenue in India in the previous quarter.

Speaking at the call, Ternus said that Apple saw major growth in the July to September quarter globally with Indian operations setting a revenue record. “We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India,” he noted.

While Apple did not give a breakdown of revenue from India alone, the company posted a total revenue of $114.5 billion in Q4 2026, up from $102.5 billion a year prior. In terms of annual revenue, Apple secured record revenue at $479 billion, compared to $416 billion last year.

iPhone sees record upgrades

This growth was largely driven by demand across Apple’s portfolio including the iPhone, Mac, and services business. A key part for growth in India was the iPhone, particularly from users who were upgrading from older models. “We also set a September quarter record for upgraders worldwide as well as in the U.S., China mainland, and India, helping to deliver our best fiscal year ever for upgraders globally,” John Ternus explained.

It should not come as a surprise to see a rise in iPhone demand in the September quarter. Apple launched the iPhone 18 Pro series and the iPhone Duo on September 9. While the iPhone Duo went on sale in October, the demand for the iPhone 18 Pro series likely fuelled the increase in revenue in India. The September quarter spans from July to September.

Overall, Apple’s iPhone revenue stood at $57.6 billion in this quarter, a 17 per cent year-on-year increase.

Apple CFO Kevan Parekh added that the active iPhone installed base – active iPhones in use – had reached an all-time high. “The iPhone active installed base grew to an all-time high, and iPhone had a record year for upgraders globally and in several markets, including the U.S., China Mainland, India, and Japan,” Parekh said. The iPhone was also a top-selling model in various regions, including India, according to the Apple CFO.

Mac also sees growth in India

But that was not all. According to Apple, the Mac too played a role in its all-time revenue record in India. “We saw double-digit growth (for Mac) in both developed and emerging markets, with all-time records in markets like India and Southeast Asia,” Kevan Parekh said. Parekh added that FY2026 was “Mac’s best fiscal year” in developing markets, “driven by record upgraders and customers new to the Mac.”

Mac revenue increased 24 per cent year-on-year to $10.8 billion despite supply constraints, driven, in part, by the MacBook Neo and MacBook Pro.

At the same time, Apple’s services business recorded all-time quarterly revenue of $31.6 billion, an increase of 10 per cent from a year earlier. The company reported all-time services revenue records in most markets it tracks, including India and Latin America.

John Ternus also highlighted Apple Pay’s entry into India. “Turning to Apple Pay, we recently launched in India with Axis Bank, bringing a seamless, safe, and secure way to pay in one of the biggest markets in the world,” he said. “Today, Apple Pay is available in over 90 markets, giving customers around the world peace of mind built into every transaction.” Apple Pay was launched on September 30, 2026.

- Ends