In the quarter ended 27 September 2025 (fiscal Q4 for Apple, but commonly referred to as Q3 for many markets), Apple posted global iPhone revenue of around $49 billion, up approximately 6 % versus the same quarter a year earlier.
The growth was driven by strong performance of the iPhone 16 family and signals of improved demand in emerging markets including India.
Key Highlights
- iPhone revenue: $49 billion, up ~6% year-on-year.
- Overall company revenue for the quarter: ~$102.5 billion.
- Apple said the active installed base of iPhones reached an all-time high, and they set upgrade records in many markets including emerging regions.
- India: Apple achieved its all-time revenue record in India in the September quarter, aided by the iPhone launch and strong retail/-manufacturing push.
Why It Matters
- Premium positioning works: By generating $49 billion from iPhones alone, Apple continues to show that its premium segment remains strong even amid global smartphone market pressures.
- Emerging markets gaining importance: The growth drivers are increasingly outside mature markets; the mention of “emerging markets… and an all-time record in India” underscores this shift.
- Ecosystem and installed-base strength: High iPhone revenue suggests both strong new sales and upgrades, meaning Apple’s ecosystem (services, accessories) could benefit further.
Challenges & Considerations
- Single-digit growth: While 6 % growth is positive, it is modest compared with past periods of rapid smartphone expansion; sustaining momentum may be harder.
- Competition and macro headwinds: Global supply-chain issues, regional economic slowdowns, and competition from strong Android-based rivals could limit upside.
- Reliance on fewer product lines: The iPhone remains a very large share of Apple’s revenue; any disruption in product cycle or demand could have outsized impact.
Outlook
- Apple will likely aim for further growth through upgrades, new models (e.g., iPhone 17 series), and expansion in emerging markets such as India.
- The services and accessories segments (which benefit from a strong installed base) could see tailwinds as new iPhone users join the ecosystem.
- Investors and analysts will watch whether Apple can accelerate growth beyond 6 % and how margins and product-mix evolve.
