Apple reported record-breaking revenue in India for the fourth quarter of the 2026 fiscal year. The company achieved all-time highs for its Mac and services segments, while iPhone sales reached a September quarter record.
September 26: Quarterly Financial Results
Apple announced global revenue of $114.5 billion for the quarter ending September 26, representing a 12% year-over-year increase. Net profit rose 11.8% to $30.7 billion. CEO John Ternus noted that the company set September quarter revenue records in both developed and emerging markets, with India achieving an all-time revenue peak. Global iPhone revenue grew 17% to $57.6 billion, while Mac revenue increased 24% to $10.8 billion. The services division saw global revenue reach $31.6 billion, a 10% increase, with record highs in India and Latin America.
September 30: Apple Pay Launch in India
Apple expanded its financial services in India by launching Apple Pay. The company partnered with Axis Bank as its initial banking partner, supporting Visa and Mastercard credit cards. The service enables contactless payments via iPhone, iPad, and Apple Watch. Apple collaborated with payment providers including Juspay, Cashfree, and PayU to integrate the service across merchant networks such as Zomato, Blinkit, and Croma. The company stated that card numbers are not stored on devices or servers and transaction data is not retained.
Current Market Position
Apple’s recent performance highlights a strong growth trajectory in emerging markets. The company reported that iPhone upgraders reached a September quarter high in India, similar to trends observed in the US and China. Executives cited a Worldpanel survey identifying the iPhone as a top-selling smartphone model in several major global markets.
Why it matters: Apple’s expansion in India signals a strategic shift toward capturing the world’s most populous market. By localizing payment services and achieving record hardware sales, the company is positioning itself to compete directly with lower-cost rivals in emerging economies, a strategy that often serves as a blueprint for growth in other developing regions, including parts of the Middle East.