Apple’s growth story in India has been remarkable. When Tim Cook first visited India in 2016, the company’s presence was primarily symbolic, marked by modest sales, a lack of retail stores, and minimal manufacturing operations. Fast forward to today, with Tim Cook announcing his departure as CEO, India stands as one of Apple’s most significant growth narratives, contributing record revenue, representing a quarter of global iPhone production, and thriving with six Apple Stores.
Cook, aged 65, will transition from the role of CEO on September 1, after nearly 15 years, passing the reins to John Ternus, who heads Apple’s hardware engineering. Nonetheless, Cook will continue as executive chairman. In his farewell message, he referred to the job he is leaving as the best role in the world.
This transition signifies the conclusion of a transformative chapter for Apple. Under Cook’s leadership since 2011, the company’s valuation soared from around $350 billion to nearly $4 trillion. Revenue increased from $108 billion in FY2011 to over $416 billion in FY2025, and the services segment now generates in excess of $100 billion per year. The transformation in India has been particularly extraordinary, as Apple built its presence from the ground up.
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How India Became Apple’s Key Growth Market
Apple’s strategy in India has evolved over several years. In 2023, Cook returned to open the first two retail stores: Apple BKC in Mumbai and Apple Saket in Delhi.
On the demand side, Cook has consistently spotlighted India during earnings calls. Earlier this year, in response to an analyst’s inquiry regarding iPhone sales, he revealed that Apple achieved a record revenue quarter in India, fueled by exceptional sales across iPhone, Mac, and iPad, alongside an all-time high in services. By the first quarter of 2026, the country had captured a 28% value share of the smartphone market, according to Counterpoint Research.
Cook described India as a tremendous opportunity for growth, highlighted by record revenues across its product lines.
“We set a quarterly revenue record during the December quarter. To elaborate, we set quarterly revenue records for iPhone, Mac, and iPad, alongside an all-time revenue record for services. It was an outstanding quarter in India,” Cook stated during discussions referencing the company’s success in the market.
As it stands, Apple operates six stores in India, with additions in Bengaluru, Pune, Noida, and the Borivali area of Mumbai joining the original outlets.
The manufacturing aspect is moving forward simultaneously. Currently, Apple assembles approximately 25% of its global iPhones in India, projecting around 55 million units produced in 2025, a notable 53% increase year-on-year. Partners such as Foxconn, Tata Electronics, and Pegatron collaborate under the government’s Production Linked Incentive scheme, with the entire iPhone 17 series produced in India prior to its launch in 2025. Exports from India exceeded $12.8 billion in 2024, with more than half of the iPhones sold in the United States now assembled within the country.
Cook’s Engagement in India
Experts monitoring Apple’s performance in India assert that Cook’s involvement extended beyond operational metrics.
“India is among Apple’s most critical markets. Tim Cook successfully identified the potential and globally signalled its significance through various avenues, including manufacturing initiatives, retail growth, and fostering a developer and user community,” remarked Tarun Pathak, Research Director at Counterpoint Research.
“Throughout this journey, Cook developed a personal rapport with the Indian consumers. It is now essential for John Ternus to build on this foundation, especially considering the market’s future outlook. Ternus’s extensive engineering and hardware expertise, coupled with his engaging personality, will likely resonate well with India’s youthful and ambitious consumer base.”
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A Legacy of Operational Excellence and Geopolitical Insight
Prabhu Ram, Vice President at the Industry Research Group in CyberMedia Research, frames Cook’s broader legacy through the successful decisions being realised now.
“Tim Cook’s legacy is characterised by meticulous execution and operational excellence during a transformative era for Apple. Under his guidance, Apple’s market valuation grew more than ten times, nearing $4 trillion. The Services segment emerged as a lucrative, recurring revenue source, achieving consistent double-digit growth even while the core hardware division matured,” Ram shared.
“Cook’s tenure also showcased strategic agility in confronting unforeseen events, geopolitical challenges, and related supply-chain issues. He catalysed supply chain diversification beyond China, notably expanding into Vietnam and India. Currently, India serves as a vital long-term growth and manufacturing hub for Apple, akin to China’s role over the past twenty years,” Ram added.
Ram believes that Cook’s efforts in India will have lasting significance. “One of Tim Cook’s lasting contributions will be the establishment of India as a crucial element within Apple’s long-term strategy, encompassing manufacturing, supply chain, and growth within the domestic market. Apple remains in its early phases in India, with ample room for expansion in both iPhones and its comprehensive hardware and services offerings,” he explained.
Data from CyberMedia Research indicates that Apple now holds nearly 10% of the smartphone market share in India by volume, along with over 60% share in the super-premium segment (devices priced above Rs 50,000).
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“This growth is driven by the increase in manufacturing and lasting consumer aspiration,” Ram remarked. “As production stretches from iPhones to AirPods and supplier integration matures, Apple now constitutes over 65% of India’s smartphone exports,” he noted.
Under the leadership of incoming CEO John Ternus, alongside Chief Hardware Officer Johny Srouji, Apple is gearing up for a future focused on foldable and AI technologies. Ram believes that India’s robust R&D and AI ecosystem will play a pivotal role in this ambitious strategy.