Thanks to rising iPhone sales and greater enterprise adoption of its products, Apple Inc.’s India unit posted the highest December-quarter topline with double-digit growth.

Our main area of strength has been emerging markets. In the Q1 earnings calls, Apple CEO Tim Cook stated, “You know, if you look at it, India grew in revenue terms, strong double digits in the December quarter and hit a quarter revenue record.” Additionally, that theme has held true for the remaining three quarters of the year. Therefore, emerging markets (are) important. And I think we’re doing a fantastic job over there.”

According to Cook, Apple broke revenue records in more than twenty countries and regions, including throughout Europe and the remainder of Asia Pacific. Along with all-time highs in Malaysia, Mexico, the Philippines, Poland, and Turkey, we also continue to witness robust double-digit growth in several emerging markets, with December quarter records in India, Indonesia, Saudi Arabia, and Chile.

Cook attributes Apple’s 2 percent year-over-year revenue gain to “iPhone sales, and an all-time revenue record in services.” Apple reported $119.6 billion in revenue for the quarter.

During the results call, Apple CFO Luca Maestri also disclosed that almost two-thirds of Zoho’s 15,000+ global employees use Macs as their primary computers, and 80% of them use iPhones for work.

The solid demand for Apple’s current and older iPhone models has been linked by analysts to the company’s excellent growth. Apple’s aggressive marketing tactics, such as consumer financing, trade-ins, and discounts, are mostly responsible for this.

According to a forecast released on January 31 by Counterpoint Research, Apple shipped over 10 million iPhones in 2023, up from 6 million in 2022, and took first place in terms of revenue for the year, surpassing its Korean competitor Samsung.

In 2023, the tech giant held a 23 percent sales share in smartphones, which was higher than Samsung’s 21 percent share. According to data analyzed by Moneycontrol, Samsung led the smartphone market in 2022 with a 22 percent revenue share, followed by Apple with a 17 percent share.

According to Counterpoint data, the average selling price (ASP) of Apple iPhones in 2023 was $981, making it the most on the market when compared to Samsung’s $350 ASP.

According to Counterpoint research analyst Shubham Singh, “Apple’s focus on India is also aiding the trend,” with the company surpassing the 10-million-unit mark in shipments and taking the top spot in revenue in a calendar year for the first time, driven by strong demand for both its newest and older iPhone models.

Increased offline shipments were a result of the company opening its own retail locations and putting more of an emphasis on LFR (large-format retail) through frequent discounts, according to Singh. “In addition, increased trade-in values offered consumers a compelling reason to switch to iOS.”

According to CMR India, iPhone shipments increased by 28% in 2023 as Apple secured a 6% market share. India had a 7% increase in iPhone shipments in just the fourth quarter of 2023.

Apple increased its supply of iPhones significantly from the previous year, generating over Rs 1 lakh crore in revenue in India. From January to December, made-in-India iPhones were shipped for a total of Rs 65,000 crore.