Published: November 3, 2026
StartupFeed Quick Take
- Apple India set an all-time revenue record in the quarter ended September 26, 2026.
- Mac and Services both hit all-time India highs; global Mac revenue rose 24% to $10.8 Bn.
- Apple Pay went live in India on September 30, 2026, starting with Axis Bank credit cards.
Apple set an all-time revenue record in India in the September quarter, the company said on its earnings call. It was the standout market in a record global quarter.
Apple’s Q4 FY26 release shows global revenue rose 12% from a year earlier to $114.5 Bn. Net profit rose 11.8% to $30.7 Bn. For the full year, revenue rose 15% to $478.8 Bn.
India did not get a rupee figure of its own. Apple rarely gives one. But the India call-outs this quarter were the widest in a while.
What Apple Said About India
John Ternus, Apple’s chief executive, named India directly on the call. He said Apple set September-quarter revenue records in both developed and emerging markets, plus an all-time record in India.
Ternus took over as chief executive on September 1, 2026, after Tim Cook. This was his first full September quarter in the role.
The iPhone drove it. In India, iPhone revenue set a September-quarter record. Apple also logged a September-quarter high for people in India trading up to a new iPhone.
Kevan Parekh, Apple’s chief financial officer, pointed to a Worldpanel survey. He said iPhone was among the top-selling smartphone models in India, the US, urban China, the UK, Germany, Australia and Japan.
Ritesh Pai is not on this story. The named India voice here is Apple’s own leadership, on the record on the call.
“We set September-quarter revenue records in both developed and emerging markets, as well as an all-time record in India.”
John Ternus, chief executive, Apple. From the Q4 FY26 earnings call, October 30, 2026.
Mac and Services Set India Highs
Mac was the fastest-growing line. Global Mac revenue rose 24% from a year earlier to $10.8 Bn. India and Southeast Asia both hit all-time Mac revenue highs.
Apple also logged a September-quarter high for first-time Mac buyers. That matters in India, where many buyers are new to the Mac.
Services hit a global record of $31.6 Bn, up 10% year-on-year. Services reached all-time highs in most tracked markets, India among them.
Not every line grew. Globally, iPad revenue fell 10% to $6.2 Bn. Wearables, home and accessories fell 8% to $8.3 Bn. Total products revenue was $82.9 Bn, up 12%.
Global iPhone revenue rose 17% to $57.6 Bn.
Apple Pay Is Now Live in India
The bigger consumer news sits beside the results. Apple Pay launched in India on September 30, 2026. Axis Bank is the first banking partner.
It works with Axis Bank Visa and Mastercard credit cards, on iPhone, iPad and Apple Watch. Mac support is due later. RuPay cards are not supported at launch.
The payment partners are Juspay, Cashfree and PayU. Launch merchants include Blinkit, Zomato, Croma, ixigo, Tata 1mg and Chaayos.
Apple says card numbers are not stored on the device or its servers. It says they are not shared with merchants, and that transaction data is not kept in a way that links back to a user.
Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said the company was excited to bring Apple Pay to users in India. Apple Pay now runs in more than 90 countries and regions.
| Line (global) | Q4 FY26 revenue | Change YoY |
|---|---|---|
| iPhone | $57.6 Bn | up 17% |
| Mac | $10.8 Bn | up 24% |
| Services | $31.6 Bn | up 10% |
| iPad | $6.2 Bn | down 10% |
| Wearables, home, accessories | $8.3 Bn | down 8% |
Apple expects December-quarter revenue to grow 7% to 10% year-on-year. That would be a new quarterly high.
What this means for you: If you sell to iPhone owners in India, the paying base just grew a channel. Check whether your checkout supports Apple Pay through Juspay, Cashfree or PayU before the December quarter.
StartupFeed Insight
The record revenue is the headline, but Apple Pay is the number to watch. Axis Bank had about 1.63 crore active credit cards against roughly 12.4 crore in India, so the reachable base is small today. The real test is HDFC and ICICI, both bigger card issuers and both reported to be in talks. If either signs by March 2027, Apple Pay moves from a niche perk to a checkout option founders must support. RuPay and UPI staying out keeps it off most Indian wallets for now. Watch the issuer list, not the revenue line.
By Avinash Mishra, Business Correspondent
Have a tip? Write to us at editorial@startupfeed.in.
Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
Liked this story? Follow StartupFeed on Google so our reporting reaches you first.
