Apple recorded an all-time high revenue in the Indian market, along with other emerging markets in the quarter ending September 2025.

“We set a September quarter revenue record in emerging markets and an all-time revenue record in India. These results come at the close of an extraordinary year for Apple in which we achieved an all-time revenue record of $416 billion for the fiscal year,” said Apple CEO Tim Cook. This is also the quarter that marked the launch of India-made iPhone 17 series.

Overall, the company reported a quarterly revenue of $102.5 billion, a growth of 8 per cent annually and 8.9 per cent sequentially. In the Asia Pacific region, excluding Greater China and Japan, revenue grew by 14.3 per cent annually to $8.4 billion.

Tariff costs went from $1.1 billion to a projection of $1.4 billion based on the tariff rates and policies. According to Cook, it assumes a stable environment for the quarter.

“[The projection] does comprehend the change that was just made, which we’re very encouraged to see with the tariffs moving from 20 per cent to 10 per cent in China,” said Cook. Earlier, Cook had said that the company is uncertain about September estimates for Q4 due to build ahead inventory within supply chain.

According to IDC’s preliminary forecast, Apple’s shipment volumes for the festive quarter is expected to record approximately 5 million units, fuelled heavy discounting — especially on e-tailer platforms — for the previous generation iPhone 16/15 models. IDC also noted that the newly launched iPhone 17 series contributed over 10 per cent of Apple’s total quarterly shipments.

“This volume is expected to place them among India’s top 5 brands and deliver a significant 20-25 per cent + year-over-year growth,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific.

Overall, iPhone growth was attributed to consistent high aspirational value regarding the brand, channel expansion, higher eyeballs for the newly launched series and a larger demand for Pro/Pro max models. Annual iPhone shipments are expected to hover between 14-15 million units in 2025, as per IDC.

Published on October 31, 2025