- Apple's iPhone sales see India surpassing Germany and France to become the fifth largest market.
- In a significant market shift, Apple's share in India's total smartphone market increased to 5.1% from last year's 3.4%.
- The expansion of the premium smartphone segment, with 10% of handsets shipped now priced above $400, opens up new opportunities for Apple in India.
The second quarter results have revealed an exciting shift in Apple's global positioning, with India ascending to the role of the tech giant's fifth largest iPhone market. This leapfrogging move sees India surpassing France and Germany, courtesy of a dedicated strategy from Apple's management, helmed by CEO Tim Cook, to seize opportunities in markets that promise substantial future growth.
The UK, Japan, China, and the US still hold their ground ahead of India in the iPhone sales arena, as informed by Counterpoint Research. Remarkably, it's the first instance of India breaking into the top five echelon of Apple's iPhone markets. Contributing approximately 4% of total iPhone sales in Q2, India's influence on Apple's performance saw a significant uptick, with the exact number of iPhone sales remaining undisclosed. However, it's worth noting that the year-on-year growth stood at a staggering 50%.
Apple's footprints in India's overall smartphone market are becoming increasingly noticeable. According to Counterpoint Research, Apple's market share rose to 5.1% by the end of June, a substantial improvement from the 3.4% in the same period the previous year.
Simultaneously, Apple's expansion strategy in India is firing on all cylinders, capitalizing on both the retail and manufacturing fronts in the world's fifth-largest economy. April saw the debut of Apple's physical stores in Delhi and Mumbai, paving the way for a more direct connection with Indian consumers.
Apple's endeavour to diversify its manufacturing hub has led to a strategic pivot towards India, a shift from the prevalent dependence on China. The Indian smartphone market, primarily dominated by low-cost Android devices and competition from Samsung and Xiaomi, is experiencing an uptick in the premium segment. The pandemic has surprisingly resulted in smartphones priced over $400 accounting for 10% of total handset shipments, a significant rise from the pre-Covid figure of 4%.
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