Apple is anticipated to expand its market share in India’s smartphone sales, particularly driven by the high-end iPhone 15 Pro and Pro Max models. Recent data from market researcher Counterpoint, exclusively shared with Reuters, projects that Apple’s share of smartphone sales in India from July to December will rise to 7 per cent, an increase from the 5 per cent recorded in the first half of 2023.
Positioning India as a significant growth driver, Apple has been directing its efforts towards capturing a larger market share amidst declining flagship device sales. The company’s suppliers are increasing manufacturing operations in India due to a decline in demand and regulatory challenges in China.
Demand for Apple’s latest models, the iPhone 15 Pro and Pro Max, which went on sale today, is surging in India, with wait times extending up to late October — reflecting similar trends observed in China and the US.
Counterpoint estimates that these new models will make up 25 per cent of the overall iPhone 15 shipments in India during the fourth quarter, indicating a 4 per cent rise compared to the previous generation’s top-range models in the same period last year.
Nabila Popal, a research director at market intelligence firm IDC, highlighted the significant growth of the premium smartphone market in India, attributing much of it to Apple’s success, which has steadily climbed from 0.8 per cent in 2019 to 6.1 per cent in the first half of 2023.
In the high-priced smartphone segment in India (above $800), Apple dominates with a 67 per cent share during the first half, as per IDC data, while Samsung accounts for 31 per cent.
Apple’s strategic moves, including opening two flagship stores in India earlier this year, have showcased positive results. Apple’s CEO Tim Cook reported “record” revenue in India for the June quarter.
However, while Apple’s growth in India is promising, there is still considerable ground to cover to achieve sales levels seen in the company’s major markets. A recent note by Morgan Stanley estimated that Apple’s revenue from India is approximately half of that from China.