Apple has lengthy been a worldwide chief within the smartphone market, and counts the likes of the US, the UK, and China as its key markets. India, regardless of being a latest attraction for the tech big to shift its manufacturing to, has typically remained behind when it comes to the market of Apple’s flagship smartphone – the iPhone. Now, that is beginning to change, and within the second quarter of 2023, India turned Apple’s fifth largest iPhone market, surpassing Germany and France, for the primary time ever.
In line with a report from Counterpoint Analysis, India rose to occupy the place of the fifth-largest iPhone market within the June quarter, which got here amidst the corporate’s elevated give attention to distribution and advertising within the nation, the opening of two shops in India, and elevated gross sales of Apple merchandise on the earth’s second-largest web market. India is on observe to change into a good larger market when it comes to gross sales, contemplating the Cupertino-giant’s focused focus to develop smartphone market share within the largely low-cost Android dominated nation.
The expansion of the iPhone maker in India has been a mix of the corporate’s “general technique specializing in distribution and affordability,” Ankit Malhotra, senior analysis analyst at Counterpoint Analysis, commented on the matter, including that “the primary industry-wide issue is the expansion within the premium market in India which Apple has taken benefit of.”
Now, India ranks behind the U.Ok., Japan, China, and the U.S. in terms of iPhone gross sales. The June quarter noticed a development of fifty% year-on-year of iPhone similar within the nation, whereas the South-Asian nation contributed almost 4% of all iPhone gross sales throughout the identical interval. There are a selection of things which have contributed to India’s rising significance for Apple. For one, the Indian financial system is rising quickly, ensuing within the growth of the Indian center class. This, in flip, creates a rising demand for premium smartphones, such because the iPhone.
For one more, Apple has been rising its give attention to India in recent times. The corporate has opened its first two retail shops in India, and it has additionally been increasing its distribution community. Apple has additionally been making its merchandise extra inexpensive for Indian shoppers. Moreover, the Indian authorities has been making it simpler for international firms to do enterprise in India. This has made it extra engaging for Apple to put money into India, which even shifted a number of the manufacturing of its iPhones to the nation (and away from China) to make sure that Indian shoppers should purchase locally-manufactured iPhones sooner or later sooner or later.
For the interval ended June 2023, the market share of the Cupertino-headquartered tech titan rose to five.1%, a rise from the market share of three.4% it commanded in the identical interval final 12 months. The nation’s smartphone market continues to be dominated by the likes of Chinese language distributors and low-cost Android smartphones, whereas the vast majority of smartphones are powered by Google’s Android.