CEO of Apple Tim Cook
| Photo Credit:
Brendan McDermid/Reuters
Apple reported record revenue of double-digit growth in the Indian market, along with other emerging markets, in the quarter ending June 2025.
“We had June quarter revenue records in more than two dozen countries and regions, including the US, Canada, Latin America, Western Europe, the Middle East, India and South Asia. These results were driven by double-digit growth across iPhone, Mac and Services,” said Apple CEO Tim Cook.
iPhone 16 lifts sales; Asia-Pacific revenue up 5.4%
Overall, the company reported total revenue of $94 billion, a 1 per cent decline on a sequential basis and a 10 per cent increase annually. In the Asia-Pacific region, excluding Greater China and Japan, revenue grew by 5.4 per cent to $7.7 billion. In terms of sales, iPhone revenue grew to $8 billion, reflecting a 14 per cent year-on-year increase, driven by iPhone 16 sales.
According to Counterpoint Research, Apple’s growth in India increased by 60 per cent year-over-year in Q2 2025, securing the seventh position in overall smartphone shipments.
India shipments surge 60%, iPhone 16 most shipped
“The growth was driven by consistent promotional activity, wider EMI options and improved offline retail execution. These efforts helped Apple achieve its highest-ever Q2 shipments in India, with the iPhone 16 emerging as the most-shipped smartphone during the quarter,” said Shubham Singh, Counterpoint Research Analyst.
Apple incurred costs worth $800 billion for the quarter ending June 28 and estimated a $1.1 billion cost impact for the September quarter, assuming the tariffs remain unchanged. In the previous quarter, Cook had said the company had a “limited impact” by tariffs, and had estimated a tariff impact of just $900 million.
Apple braces for $1.1 bn tariff hit in Q3
Speaking about the September estimates, Cook said: “We are uncertain of what rates will be. Particularly in last quarter some build ahead inventory within supply chain. Q1 is generally a higher volume quarter and tariffs are pretty linear with volume.”
Supply chain plans
While Cook did not directly comment on supply chain plans for India, he said the country of origin for products remains the same as last year, with a majority of phones sold in the US coming from India and other products from Vietnam. Cook also stated that the company looks forward to opening new retail stores in India later this year.
Earlier reports indicated that Apple plans to shift the assembly of all iPhones sold in the US to India as soon as next year, as the trade war pushes tech giants away from China. Following the announcement of a 25 per cent tariff for India, investors were eager to learn about the company’s plans for the country.
“Keep in mind that the vast majority of products are covered under Section 232 investigation. Last quarter, the bulk of tariffs paid were in relation to China. That’s where things are and what we assumed when we projected $1.1 billion costs,” said Cook.
Until there is clarification on the investigation, Navkendar Singh, Associate Vice President, Client Devices & IPDS, IDC India, said that electronics will continue to be exempt from the tariff.
“Apple might be in the top 5 brands this year, reaching 14.5-15 million shipments to India,” said Singh.
To mitigate the situation, Apple plans to optimise its supply chain by increasing its presence in the US. The company has committed $500 billion investment in the US, building chipsets in Arizona and semiconductors across 12 States and 24 factories.
“We do a lot in US and always looking to do more,” said Cook.
The total sell-in of iPhones in India was 12 million units for 2024, according to IDC data. Apple is producing around 40-45 million iPhones in India for both local consumption and exports outside of India, accounting for approximately 18-20 per cent of its global shipments in 2024.
Published on August 1, 2025
