The iPhone 15 and its various models accounted for over half of Apple’s smartphone shipments in India during the fourth quarter, according to a report by Canalys. The festive sales season, particularly during Diwali, provided a significant boost to the latest iPhone series in the Indian market.
Key Takeaway
The iPhone 15 series accounted for over half of Apple’s smartphone shipments in India during the fourth quarter, driven by strategic promotions during the festive sales period. Despite challenges related to pricing, Apple’s local manufacturing efforts and expanding retail presence are contributing to its growth in the Indian market.
Remarkable Success During Festive Sales
Apple’s iPhone 15 series witnessed remarkable success in India, with the company strategically promoting the latest models during the festive sales period. The festival of Diwali, which typically falls in October, occurred in November last year, allowing Apple to capitalize on the festive season to drive sales across online and offline channels in the country.
Factors Contributing to Success
The iPhone 15 series introduced several notable changes, including the adoption of USB-C, the capsule-shaped Dynamic Island, and a matte back finish across all models. These design-level enhancements, coupled with attractive financing options and an expanding retail presence, significantly appealed to Indian consumers, despite the dominance of Android in the market.
Challenges and Growth Opportunities
Despite its success, Apple still faces challenges in the Indian market, primarily due to the high pricing of its iPhone models. The average selling price of smartphones in India is significantly lower than in the U.S., posing a hurdle for Apple to capture a larger market share. However, the company’s local manufacturing efforts and increasing brand presence are contributing to its growth in the region.
Market Outlook and Growth Projections
Overall, the Indian smartphone market witnessed a 20% year-on-year growth in the fourth quarter, with nearly 39 million units shipped. Canalys anticipates the market to continue growing in 2024, driven by the adoption of affordable 5G devices and the replacement cycle following the pandemic period. However, vendors are expected to face challenges related to rising bill of materials costs in the coming year.
