Apple’s India revenue up 42% to $8.7 bn in 2023: Morgan Stanley

New Delhi: Apple’s revenue in India rose nearly 42 per cent (on-year) last year to $8.7 billion, foreign brokerage Morgan Stanley said in a report on Friday.

According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year.

“In CY23, India represented 4 per cent of iPhones shipments and revenue, up from 3 per cent in CY22 and 1 per cent 5 years ago,” said analysts in the report.