Apple posts record Q1 earnings of ₹13.22 lakh crore:iPhone global sales jump 23%; Cook says India emerges as key growth market

Tech giant Apple has reported its results for the first quarter of FY26 (Q1 2026), posting record revenue of $143.8 billion (around ₹13.22 lakh crore)—a 16% rise compared to the same period last year. This marks Apple’s highest-ever quarterly revenue, driven mainly by strong iPhone sales and a surprising rebound in the Chinese market. iPhone sales surge 23%, active devices cross 2.5 billion The iPhone remained Apple’s biggest revenue driver, with sales rising 23% to $85.3 billion (about ₹7.84 lakh crore).
During the earnings call, CEO Tim Cook said iPhone demand exceeded expectations. Apple also revealed that the number of active devices worldwide has crossed 2.5 billion (250 crore). Earnings per share (EPS) stood at $2.84, beating Wall Street’s estimate of $2.68. Strong comeback in China, iPhones among top sellers Concerns over Apple’s performance in China were eased as revenue from the Greater China region jumped 38%. Calling it a milestone, Tim Cook said, “This was the best quarter ever for iPhone in Greater China’s history.” iPhones ranked among the top three smartphones sold in Chinese cities. Apple also saw double-digit growth in store footfall and a record number of users switching from Android to iPhone. Record growth in India, Cook says immense opportunities ahead Apple’s growth momentum in India continues to strengthen, with the company recording its highest-ever sales of iPhones, Macs, and iPads in the country. CEO Tim Cook called India a major opportunity, noting that it is the world’s second-largest smartphone market and the fourth-largest PC market. Cook said that a large share of customers buying iPhones or Macs in India are first-time Apple users. Apple opened its fifth retail store in India in December, and another store is set to open soon in Mumbai. Services revenue touches ₹2.75 lakh crore Apple’s services business—which includes the App Store, Apple Music, and iCloud—hit a new record, generating $30 billion (around ₹2.75 lakh crore) in revenue.
Apple TV viewership also surged, rising 36% in December. However, Mac revenue fell 6.7% to $8.4 billion (₹77,251 crore). The wearables and accessories segment saw a 2.2% decline, mainly due to supply shortages of AirPods Pro 3. Apple partners with Google to add AI to Siri Apple confirmed it is working with Google to make its voice assistant Siri smarter and more personalised using AI. Tim Cook said the partnership will deliver a new AI experience while fully protecting user privacy through on-device processing. The new AI features could be launched by the end of this year. Supply chain, rising memory prices remain challenges Despite record profits, Apple is facing some challenges. A shortage of 3-nanometer chips has made it difficult for the company to meet demand. Cook said Apple is currently operating in “supply-constrained” mode, where demand is higher than supply. In addition, rising memory chip prices in the coming quarter may put pressure on profit margins. Apple has projected 13% to 16% growth for the March quarter.