Apple is anticipated to increase its market share in India’s smartphone market, with increased shipments of the premium iPhone 15 Pro and Pro Max models.
In the period from July to December, the business is anticipated to sell 7% of all smartphones in the nation, up from 5% in the first half of 2023, according to data from market researcher Counterpoint shared exclusively with Reuters.
In light of the flagging sales of its flagship product, the tech giant has been praising India as its next significant growth engine. In response to waning demand and regulatory pressure in China, its suppliers have also started expanding manufacturing activities in the area.
Indian consumers will have to wait till the end of October to purchase Apple’s newest 15 Pro and Pro Max models, following trends in China and the US.
According to Counterpoint, the models will represent 25% of all iPhone 15 shipments in India in the fourth quarter, an increase of 4% from what the top-end models of the previous generation represented a year earlier.
According to Nabila Popal, a research director at market research firm IDC, “the premium smartphone market in India has climbed tremendously from 0.8% of the total market in 2019 to 6.1% in the first half of 2023 and this is largely attributed to Apple’s success.”
According to IDC data, Apple had a 67% first-half share of the Indian market for smartphones costing more than $800. 31% of the segment was accounted for by Samsung.
Apple established two flagship locations there earlier this year, and CEO Tim Cook reported in August that the company’s revenue in India reached “record” levels in the three months ending in June.
Apple still has a ways to go before the nation can match sales witnessed in the company’s key markets.
In a report earlier this month, Morgan Stanley projected that Apple’s income from India is almost equal to that from China.