Macs give Apple a chunkier India pie

livemint.com:

Mint indicate that Apple's India revenues from the Mac portfolio grew 67% year-on-year (y-o-y) in the April-June quarter, and the number of units sold increased 33%. Plus, share of India revenue in global Mac sales rose to 3% in Q1 of FY25, from 1.8% in Q1 of FY24.

Industry stakeholders pegged Apple’s growth in Mac sales to increasing enterprise demand—a factor that could help the company ramp up sales of its laptops and desktops in India over the next two years, if not more. To be sure, iPhones still account for 85-90% of Apple’s India revenue, with its net annual revenue expected to have grown around 30% in FY24.

Analysts expect FY25 to also be a year of double-digit revenue growth for Apple. Chief executive Tim Cook underlined this trend at Thursday’s earnings call, stating that India was yet again in Apple’s list of record quarterly revenue—amid a 5% annual growth in net revenue to $85.8 billion.

In Apple’s quarterly earnings call on Thursday, Luca Maestri, the company's senior vice-president and chief financial officer, said, “Mac generated $7 billion in revenue, up 2% year-over-year, driven by the MacBook Air powered by the M3 chip. We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia." A poll of three sell-side analysts by Mint pegged Apple to have sold around 150,000-160,000 units of Mac devices in India between April and June this year.

At an average selling price (ASP) of ₹110,000 ($1,300), Apple is estimated to have earned around $210 million from Mac sales during this period. In comparison, Mint research noted that a total of 2.3 million units of laptops and desktops were sold in India from all brands during this period at an