Apple posts record India revenue as MacBook Neo drives growth

Record Quarter Across All Markets

Apple delivered record quarterly revenue in India during the three months ending in June, driven by exceptional demand for its newly launched MacBook Neo and sustained interest in the iPhone 17 lineup, CEO Tim Cook announced during the company's fiscal third quarter earnings call.

The company posted global quarterly revenue of $109.4 billion, up 16 percent year-over-year, with a gross margin of 50.1 percent that included approximately 2 percentage points from tariff refunds. Diluted earnings per share reached $2.02, up 29 percent year-over-year, including a favorable $0.11 impact from tariff refunds.

Mac performance drives India growth

Mac revenue globally reached $10.4 billion, up 29 percent year-over-year to set a new June quarter record. The standout performer was the MacBook Neo, Apple's most affordable Mac laptop launched in March 2026 at $599, or $499 for students. Powered by the A18 Pro chip—the first iPhone-class processor ever used in a Mac—the MacBook Neo has attracted significant uptake in India alongside robust sales of the MacBook Pro.

Cook said the company achieved June quarter revenue records across every geographic segment.

We were pleased to see strength across the board with June quarter records in the U.S., Latin America, Western Europe, India, China Mainland, Japan, and Southeast Asia.

CFO Kevan Parekh highlighted Mac's performance among new customers and upgraders.

Mac had its best quarter ever for customers new to the Mac and for upgraders worldwide, including in the U.S., China Mainland, and India.

iPhone demand persists despite constraints

Demand for the iPhone 17 series, which launched in September 2025 with pricing starting at $799, remained strong in India despite supply constraints during the quarter. The iPhone 17 lineup includes the base iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max.

Apple's expansion in India manufacturing has accelerated significantly. The company assembled 55 million iPhones in India during 2025, a 53 percent increase from the previous year, representing approximately 25 percent of global iPhone production, up from roughly 18 percent in 2024. The iPhone captured a record 9 percent market share in India for full-year 2025, with approximately 14 million units shipped, up from 7 percent market share in 2024.

Pricing strategy amid rising costs

Apple has maintained stable pricing in India despite significant increases in memory component costs. Smartphone memory prices have increased nearly four times since September 2025 and are expected to rise further, potentially reaching five times their earlier levels in coming months, according to Counterpoint Research Director Tarun Pathak.

We expect single-digit volume but double-digit value growth in India during CY 2026, and view an iPhone price hike as highly likely. Even so, the brand's aspirational pull should keep bringing new users into the ecosystem—a halo effect now visible across adjacent categories, with Mac shining brightest this quarter,

Pathak said.

Rising component costs are forcing price increases across the Android ecosystem.

However, Apple is expected to outperform the industry across its key hardware categories driven by the strength of its installed base and initial positive reception of Siri AI. OEMs face a difficult choice between protecting margins and protecting volumes, and the market will feel that pressure. Apple has so far avoided that trade-off.

Cook acknowledged the challenges during the quarter.

Results came despite very significant constraints in the supply chain and forex headwinds.

The India performance contributes to Apple's broader momentum. The previous quarter ending in March saw the company post revenue of $111.2 billion, up 17 percent year-over-year, with diluted earnings per share of $2.01, up 22 percent. Apple's global installed base of active devices surpassed 2.5 billion as of the March quarter, spanning all major product lines and regions.