Apple ‘s Impressive Growth in Indian Smartphone Market
In a surprising turn of events, Apple Inc. is poised to capture a substantial 7 percent market share in India’s fiercely Android-dominated smartphone market by the end of 2023. This revelation comes on the heels of robust growth in Apple iPhone shipments, which soared by an impressive 68 percent year-on-year in the first half of the year.
Market Share Milestones
Apple has achieved a 6 percent market share in the Indian smartphone market, with a particularly strong domination in the super-premium segment, holding a 63 percent share. CyberMedia Research reveals that around 65 percent of total iPhone 15 shipments during its launch quarter were made in India, thanks to the Make in India initiative’s impact on domestic iPhone manufacturing.
A Push for Local Manufacturing
Apple’s manufacturing partner, Foxconn, has started producing the new iPhone 15 at its facility near Tamil Nadu as part of the Make in India initiative. The manufacturing process has been remarkably fast, and some of the Made in India iPhone 15 units will be exported to other countries soon after the global launch. Other Apple suppliers in India, such as Pegatron and Wistron, are also preparing to assemble the iPhone 15 quickly.
Prospects for the Future
According to CMR, iPhone shipments are expected to grow by 25 percent year-on-year with the introduction of the iPhone 15 series. The previous iPhone 14 series accounted for 58 percent of the market during its launch quarter, while the iPhone 13 series constituted 23 percent. Prabhu Ram, Head of Industry Intelligence Group at CMR, is optimistic about Apple’s growth in India, especially with older iPhone models. He believes that the upcoming iPhone 15 series will continue this growth trend. However, he advises Apple to handle potential production challenges and shipment delays, particularly with the Pro models.
What Lies Ahead for Apple
Apple is gearing up for a major global product launch event scheduled for September 12, where the company will unveil its much-anticipated iPhone 15 series. In addition to the new iPhones, Apple is expected to make significant announcements about its latest Apple Watches, adding to the excitement surrounding this event.
As Apple continues its impressive surge in India’s competitive smartphone market, all eyes are on the tech giant to see how it will navigate the challenges and opportunities that lie ahead in this Android-dominated landscape.