Apple Posts Record September Quarter Revenue In India As iPhone 17 Leads Q3 Shipments, Upgrader Numbers Reach New High

New Delhi: Apple has posted an all-time September quarter revenue records in India, delivering its best fiscal year ever for upgraders in the country as well as worldwide, according to Apple CEO John Ternus.

During the earnings call for Apple's fiscal 2026 fourth quarter that ended September 26, Ternus said the company set September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific.

“We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India,” said Ternus, adding that the company also set a September quarter record for upgraders worldwide, as well as in the US, China mainland, and India.

iPhone revenue was $57.6 billion for the September quarter globally, up 17 per cent from a year ago despite supply constraints and foreign exchange headwinds.

“Turning to Apple Pay, we recently launched in India with Axis Bank, bringing a seamless, safe, and secure way to pay in one of the biggest markets in the world. Today, Apple Pay is available in over 90 markets, giving customers around the world peace of mind built into every transaction,” said Apple CEO.

Comment on Apple earnings, Tarun Pathak, Research Director at Counterpoint Research, said that one of the highlights of the earnings call was seeing India show up across such a diverse range of data points — record iPhone upgraders, all-time Mac records, an all-time Services record, iPhone ranking among the top-selling models, and the launch of Apple Pay.

“Consumer aspirations remain Apple’s biggest tailwind in India, and easy financing, trade-ins, channel expansion and local manufacturing are turning that aspiration into actual purchases. Even in a tougher smartphone market, users are willing to stretch their budgets for Apple products,” Pathak told IANS.

According to Counterpoint Research, the iPhone 17 was the top-shipped model in India during Q3, and the MacBook Neo had a record quarter for sales.

“Although iPhone shipments declined YoY, Apple’s ASP in India reached an all-time high, surpassing $1,000 during the quarter. India is moving from an iPhone growth market to a full ecosystem market for Apple, and we expect that shift to accelerate in 2027 and beyond as the installed base expands,” Pathak noted.

According to Apple CFO Kevan Parekh, the iPhone active installed base grew to an all-time high, and iPhone had a record year for upgraders globally and in several markets, including the US, China Mainland, India, and Japan.

“According to a recent survey from World Panel, iPhone was a top-selling model in the US, urban China, India, the UK, Germany, Australia, and Japan,” he noted.

Mac revenue was $10.8 billion globally, up 24 per cent year-over-year despite supply constraints.

“This performance was driven by the strength of the MacBook Neo and MacBook Pro. We saw a double-digit growth in both developed and emerging markets, with all-time records in markets like India and Southeast Asia,” informed Parekh.

Services revenue set an all-time record of $31.6 billion, up 10 per cent year-over-year despite over 1.5 points of sequential FX headwinds.

“We set all-time revenue records in the majority of markets we track, including several emerging markets like Latin America and India,” Parekh said.

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