Apple’s India sales jumped 33 per cent to a record of almost $8 billion in the financial year 2023-24. It has surpassed the revenues of 90 per cent of BSE500 companies including Hindustan Unilever, Tata Power, Tech Mahindra and Petronet LNG, according to CNBC-TV18.
Apple’s iPhones accounted for more than half of the total $8 billion sales, according to a Bloomberg report. In April, Bloomberg News reported that Apple has assembled $14 billion worth of iPhones in India last fiscal year, and makes as much as 14% of its marquee devices from India.
According to the CNBC-TV18 report, only 48 of the BSE500 companies had revenues of more than $8 billion in FY24.
While Tata Power and HUL reported revenues of $7.4 billion each for the 12-month period ending March 2024, Petronet LNG had a revenue of $6.4 billion during the year.
Most iPhones made in India are produced at the Sriperumbudur plant, about 25 miles west of Tamil Nadu’s state capital Chennai.
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