India Surges to Become One of Apple’s Top 5 iPhone Markets
According to recent research, India has become Apple’s fifth largest iPhone market during the second quarter, as the company continues to intensify its distribution and marketing efforts in the country (via CNBC).
Apple’s iPhone sales in India surpassed Germany and France in the June quarter, now trailing behind the U.K., Japan, China, and the U.S., as per Counterpoint Research.
This marks the first time that India has secured a spot among Apple’s top five markets for iPhone sales.
The research firm revealed that India contributed nearly 4% of all iPhone sales in the second quarter. While the exact number of iPhone sales was not disclosed, the report said that there was a significant 50% year-on-year growth.
In terms of India’s total smartphone market, Apple captured a 5.1% market share by the end of June, compared to 3.4% in the same period last year.
Apple’s rapid growth in India is attributed to its increasing presence in both retail and manufacturing sectors within the country.
The tech giant opened its first physical stores in Delhi and Mumbai in April, while also shifting a portion of iPhone manufacturing to India as part of its diversification strategy away from China, where most flagship iPhones are currently produced.
Although India’s smartphone market is dominated by low-cost Android devices from Chinese brands like Xiaomi and Samsung, Apple has witnessed growth in the premium smartphone segment.
Morgan Stanley stated in a recent note that India could contribute to 15% of Apple’s revenue growth over the next five years