Based on a analysis launched by Counterpoint Analysis and reported by CNBC on Tuesday, India has grow to be Apple’s fifth largest iPhone market within the second quarter. Apple’s elevated concentrate on distribution and advertising in India, seen as a important future market by CEO Tim Cook dinner, has resulted in India surpassing Germany and France in iPhone gross sales. India now ranks behind the U.Okay., Japan, China, and the U.S. when it comes to iPhone gross sales.
That is the primary time India has entered Apple’s high 5 markets for iPhone gross sales.
Counterpoint Analysis famous that India accounted for almost 4% of all iPhone gross sales within the second quarter. Whereas Apple didn’t disclose the precise variety of items, its gross sales in India grew by 50% year-on-year.
Apple’s market share in India’s whole smartphone market additionally rose to five.1% within the interval ending in June, up from 3.4% in the identical interval final yr.
Apple’s enlargement in India contains the opening of its first bodily shops in Delhi and Mumbai, in addition to a shift in iPhone manufacturing to India to scale back dependence on China. Whereas the Indian smartphone market is basically dominated by low-cost Android gadgets from Chinese language manufacturers like Xiaomi and Samsung, there was development within the premium smartphone phase, with smartphones priced above $400 accounting for 10% of whole shipments.
Ankit Malhotra, senior analysis analyst at Counterpoint Analysis, attributed Apple’s development in India to its general technique specializing in distribution and affordability, in addition to the expansion of the premium market within the nation.
“The primary industry-wide issue is the expansion within the premium market in India which Apple has taken benefit of,” he informed CNBC.
Analysts, together with these at Morgan Stanley, are optimistic about Apple’s prospects in India, with expectations that India might contribute to fifteen% of Apple’s income development over the following 5 years, amounting to a projected income development of $40 billion over the following decade.
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Up to date: 18 Jul 2023, 07:14 PM IST
