Apple India may end fiscal with record $3 billion revenues

NEW DELHI: Apple Inc’s India numbers are set for another record, with early trends pointing to about $3 billion (Rs 22,200 crore) in revenue by the end of its ongoing fiscal year in September.

This is expected to be a nearly 60% growth year-on-year from the world’s second largest smartphone market, higher than the 29% increase seen last year.

Apple follows an October-September fiscal year.

Despite the projected bumper hike, Apple India’s revenue forms only around 1% of its global figure, with its smartphones having just under 5% market share in India by volume due to their higher price points, analysts said.