Published on November 1, 2023, 1:13 pm
Image source: Fox News
Apple Achieves Record Quarterly Shipments in India
In the third quarter of this year, Apple achieved its highest-ever quarterly shipments in India, according to analyst firm Counterpoint. While the country’s overall smartphone market figures remain flat, Apple managed to ship over 2.5 million iPhone units between July and September. This record-breaking number represents a significant 34% increase compared to the same period last year.
Counterpoint also revealed that the iPhone 14 accounted for more than a third of all iPhone shipments in India for the year 2023. This signifies growing popularity and demand for premium smartphone models in the country.
Despite having a single-digit market share in India and not cracking the top five brands thus far, Apple has been making strides in attracting more customers. The company has recognized the potential of the Indian market and has been expanding its local manufacturing efforts as it diversifies production away from China.
Tarun Pathak, research director at Counterpoint, explained that Apple’s market share is expected to grow from last year’s 4.5% to 6% by 2023. He also projected that while overall smartphone shipments are likely to decline by 5% during that time, Apple will experience an impressive growth rate of 38% in India alone.
Meanwhile, Counterpoint noted that although India’s overall smartphone shipments remained stagnant during Q3, there are signs of recovery as consumer demand begins to gradually increase ahead of the festive season. Shilpi Jain, senior research analyst at Counterpoint, pointed out that affordable smartphones with key features such as 5G capability and higher RAM (8GB) are becoming more accessible to Indian consumers.
Samsung maintained its position as the largest vendor in the Indian market with a share of 17.2%, closely followed by Xiaomi with a 16.6% share. However, both Samsung and Xiaomi saw their shares decline from the previous year’s figures.
Vivo emerged as the fastest-growing brand among the top five, experiencing an impressive 11% year-on-year growth. The Chinese company captured 15.9% of the total smartphone market, up from its 14.4% share in Q3 2022.
In terms of the affordable premium segment (under $360-$540), Vivo’s sibling and BBK Electronics subsidiary OnePlus took the top position with a 29% share. However, when considering the overall market, Transsion brands, including Infinix, Itel, and Tecno, recorded the highest growth rate with a remarkable 41% increase year-on-year.
Nokia (owned by HMD) and Motorola also experienced year-on-year growth during Q3, with Nokia at 31% and Motorola at 27%. Additionally, Realme and Google saw single-digit growth rates of 7% and 6%, respectively.
The future looks promising for Apple in India as it continues to enhance its presence and capitalize on the shift towards premium smartphone models. With sustained efforts in local manufacturing and a growing market share expected in the coming years, Apple is poised for further success in one of the world’s largest smartphone markets.
Original article posted by Fox News