Apple India is the 75th biggest company in India.

$3 billion in revenue with just 5% market share, Apple India left some big names of India behind in the revenue game.

Whether you love Apple or envy it, you can not deny the fact that Apple as a company is a money-printing machine. The company is sitting on a massive cash balance of more than $200 billion. Quarter after quarter, year after year, Apple continues to post astronomical sales figures.

During the latest quarterly earnings call, Apple CEO Tim Cook said the company has dubbed its business in India in the last year. The company has seen a massive demand for Apple products in India. The company created a special place for itself in the Indian market.

According to the latest research from the market intelligence firm Counterpoint technologies, Apple has a market share of 5% in India. Due to its higher pricing than the competitors, Apple owns a smaller market share than its competitors in India.

However with a smaller market share of 5%, Apple Indian has generated a revenue of ₹22,845 crores last year. The revenue numbers of the company grew by 66% from the year before. In FY20, Apple has recorded a revenue of ₹13,755 crores in India.

With a revenue of ₹22,845 crores, Apple is now the 75th biggest company in India by revenue. Only 74 companies in India have a revenue higher than Apple India. Pharma majors like Cipla, Cadila Healthcare, Lupin have lower revenue than Apple India. Other top companies like TVS Motors, Ashok Leyland, Tata Steel BSL, Titan and MRF have revenue lower than Apple India.

With just a 5% market share, Apple has built a very successful business in India. The company has acquired the lion’s share in a niche market of premium and ultra-premium smartphones in India. It also proves the fact that Indians don’t mind paying a higher price for quality products.

With the economy coming back to track and an increase in income, analysts are expecting Apple India to grow at an astronomical pace. By next year, we may see Apple India among the top 50 companies by revenue in India.