India ranks Apple’s top 5 iPhone markets for the first time: Report.

According to a Counterpoint Research study issued on Tuesday and cited by CNBC, India has surpassed the United States as Apple’s 5th largest iPhone market in the second quarter. Apple’s increased emphasis on distribution and marketing in India, which CEO Tim Cook sees as a vital future market, has resulted in India outselling Germany and France in iPhone sales. In terms of iPhone sales, India presently trails the United Kingdom, Japan, China, and the United States.

This is the first time India has entered Apple’s top five iPhone sales markets.

According to Counterpoint Research, India accounted for approximately 4% of total iPhone sales in the second quarter. While Apple did not provide the actual number of units sold, its sales in India increased by 50% year on year.

Apple’s market share in India’s entire smartphone market increased to 5.1% in the fiscal year ending in June, up from 3.4% the previous year.

Also Read: How to Evaluate the Potential of an IDO Project Before Investing?

Apple’s growth in India involves the opening of its first physical stores in Delhi and Mumbai, as well as the relocation of iPhone manufacture to India in order to minimize reliance on China. While low-cost Android handsets from Chinese manufacturers such as Xiaomi and Samsung continue to dominate the Indian smartphone industry, there has been growth in the premium smartphone segment, with smartphones priced above $400 accounting for 10% of total shipments.

Ankit Malhotra, senior research analyst at Counterpoint Research, attributed Apple’s development in India to the company’s overall distribution and affordability strategy, as well as the country’s growing premium market.

Share this article:
Previous Post: BHEL share price may reach ₹125: Nuvama

July 18, 2023 - In Finance

Next Post: 5 lakh registrations already done for Sahara scam refund portal: Amit Shah

July 21, 2023 - In Finance

Related Posts

Leave a Reply

Your email address will not be published.