$Apple(AAPL)$ Apple's big bet on India is starting to pay dividends as the company's iPhone sales in the country surpassed those in any individual European Union country in the year 2023. Apple's iPhone revenue in India rose 42% YoY in 2023 to $8.7B, as per a Morgan Stanley note.iPhone sales in India outshine the European UnionDriven by strong consumer demand for premium devices, iPhone revenue in India jumped 42% year-over-year to $8.7 billion last year. iPhone shipments to India also grew 39% to 9.2 million units, making India the fifth-largest smartphone market for Apple. This makes India a larger iPhone market for Apple than individual European Union countries like Germany or France.
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