Apple Reports Record India Revenue and Launches Apple Pay

Apple recorded its highest-ever revenue in India during the fourth quarter of fiscal year 2026, bolstered by growth in its Mac and services segments. Globally, the company reported revenue of $114.5 billion, a 12% increase from the same period last year, alongside an 11.8% rise in net profit.

While the iPhone business remains a primary growth driver, with a 17% global revenue increase, other hardware sectors faced headwinds. iPad revenue declined by 10%, and the wearables, home, and accessories segment fell by 8%. Despite these fluctuations, Apple forecasts continued growth of 7% to 10% for the upcoming December quarter.

Concurrent with its financial success in India, Apple introduced Apple Pay on September 30 in partnership with Axis Bank. The service aims to capture the local digital payments market through partnerships with major payment infrastructure providers like Juspay and Cashfree, covering a wide network of local merchants.

Apple has emphasized the security protocols of its new payment service, noting that card numbers are not stored on devices or shared with merchants. The move into India’s digital payment ecosystem is part of a broader strategy to solidify the company's market share in one of the world's fastest-growing economies.