07:03 AM EDT, 07/15/2024 (MT Newswires) -- Apple's ( AAPL ) annual sales in India surged to nearly $8 billion, Bloomberg reported on Monday.

Revenue in India rose by about 33% in the year ending March, up from $6 billion the previous year, Bloomberg said, citing a person familiar with the matter.

More than half of this revenue came from sales of Apple's ( AAPL ) high-end iPhones, underpinned by growing demand from an expanding middle class in India just as the iPhone maker seeks to reduce its sales dependence on China.

Apple ( AAPL ) representatives in India didn't respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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