It's being reported this morning that Apple's India sales rose 33% on year to a record high of nearly $8 billion for the year ended March 2024 with iPhones accounting for more than half of their sales.

This surge in sales underscores Apple’s effort to increase market share in India, and the steady progress in diversifying the manufacturing and revenue streams beyond the Chinese market. For now, Apple makes the latest iPhone 15 in India, but not the higher-end Pro and Pro Max models.

It is expected that Apple will sustain its growth momentum in India, and iPhone shipments are projected to increase by over 20 percent in 2024 on the back of the premiumization wave, domestic manufacturing support and strong distribution, experts said. For more, read the full Bloomberg report.