Apple has achieved its highest-ever quarterly shipments in India, with its iPhone sales seeing a significant boost in the country’s market. According to the latest report from analyst firm Counterpoint, Apple shipped over 2.5 million iPhone units between July and September, marking a remarkable 34% year-on-year increase.
Key Takeaway
Apple achieved its highest-ever quarterly shipments in India, with a 34% year-on-year increase in iPhone sales. The company’s growing market share in India, combined with its focus on local manufacturing and production expansion, highlights the immense growth potential of the Indian market. As Apple continues to captivate Indian customers, it is expected to further strengthen its position in the country’s smartphone market.
Apple’s Growing Market Share in India
Despite having a single-digit market share in India, Apple has been making remarkable progress in capturing the attention of Indian customers. The company’s success can be attributed to India’s gradual shift towards premium smartphone models. As the world’s second-largest smartphone market, India presents immense growth opportunities for Apple.
In fact, Counterpoint predicts that Apple’s market share in India will grow from 4.5% in 2022 to 6% by 2023, a significant jump. The recently-released iPhone 14 is already contributing to a third of Apple’s total iPhone shipments in India, a testament to the popularity of the latest model.
Apple’s Manufacturing Expansion in India
To further establish its presence in India, Apple has been expanding its local manufacturing footprint. India’s push for local manufacturing has prompted Apple to look beyond China and focus on increasing its production capabilities in the South Asian nation. This move not only aligns with India’s manufacturing goals but also helps Apple in reducing costs and establishing a stronger foothold in the market.
Growing Smartphone Market in India
While overall smartphone shipments in India remained flat in the third quarter, the market is showing signs of recovery. Consumer demand is gradually increasing, especially ahead of the festive season. Counterpoint expects significant growth in India’s smartphone market in the coming months fueled by pent-up demand, an extended festive season, and faster 5G upgrades.
Competitive Landscape
In terms of market dominance, Samsung remains the top vendor in India, with a 17.2% market share. However, it has seen a decline compared to the same quarter last year, along with Xiaomi, which holds a 16.6% share. Vivo, on the other hand, emerged as the fastest-growing brand in the top five, experiencing an impressive 11% year-on-year growth.
OnePlus, a subsidiary of BBK Electronics, took the lead in the affordable premium segment (under $360–$540), capturing 29% of the market. Meanwhile, Nokia and Motorola both experienced year-on-year growth, with Nokia at 31% and Motorola at 27%. Realme and Google also saw single-digit growth, with 7% and 6% respectively.
