For the 2nd quarter, India ascended to the 5th spot in being an iPhone market and surpassed France and Germany, reported Counterpoint Research. iPhone sales in India were close to 4% in Q2, and experienced a 50% year-on-year growth. Apple's increased involvement in India, both in terms of production and retail, is the reason for such a rapid rise in the world's 5th largest economic system.
In the second quarter, India became one of Apple's top five markets for iPhone sales, surpassing Germany and France, according to research released Tuesday. This is the first time India has been in Apple's top five. Counterpoint Research told CNBC on Tuesday that India contributed 4% of all iPhone sales in the quarter, a 50% year-on-year increase. In addition, Apple's market share in the country jumped to 5.1% from 3.4% the previous year. To capitalize on this growth, CEO Tim Cook has made India a priority by increasing distribution and marketing. In April, two physical stores were opened in Delhi and Mumbai.
Apple has taken certain steps to move some of their iPhone production away from China and towards India. In India, the market for mobile phones is mostly comprised of low-cost Android devices made by China-based providers like Xiaomi and Samsung, Apple's competitor. Counterpoint Research research analyst Ankit Malhotra stated that the growth in premium phones over $400 prior to the Covid-19 pandemic has led to the rising success of Apple in India, noting that Apple has taken advantage of both their "overall strategy" as well as this growing sector. Morgan Stanley contributed to the optimism over India's potential for Apple, estimating that Apple could see an increase of 15% in revenue growth over the next 5 years, and a $40 billion increment in revenue for the following 10 years.
The organization identified several issues that needed to be addressed.
The organization determined that there were several matters that needed to be resolved.
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