business ๐ Apple sales hit $10B milestone in India
Apple achieved over $10 billion in annual sales in India for the first time during the fiscal year ending in March. This massive growth occurred across India, where sales surpassed the previous year's $9 billion figure. The figures represent a 67% increase compared to three years prior, driven mainly by the iPhone line. Despite unfavorable exchange rates and local tax issues, Apple leveraged bank rebates and student discounts. Furthermore, a quarter of new iPhones are now being manufactured in India, signaling a major shift in supply chain strategy. ๐