Amid a local manufacturing push and an upcoming comprehensive retail store strategy, Apple shipped iPhones and iPads worth $7.5 billion to India in FY22-23, data accessed by IANS shows.
In FY23, Apple shipped over 7 million iPhones and half a million iPads in the country, registering a growth of 28 per cent for iPhone shipments, according to initial estimates provided by market intelligence firm CMR.
As Apple doubles down on domestic manufacturing in India, the tech giant is likely to capture 6 per cent market share in FY23-34, with sales of over 8 million iPhones in the country during the period.
Prabhu Ram, Head of Industry Intelligence Group, CMR, told IANS: “In the FY22-23 period, Apple continued to accelerate its momentum in India with double-digit growth in year-on-year iPhone shipments. ”
Meanwhile, in the March quarter (the last quarter of FY23), iPhones registered a growth of 67 per cent with 2.1 million shipments in the country.
“In the most recent March quarter, a strong increase in consumer demand in India catalysed shipments of iPads and iPhones. Notably, the current iPhone 14 series, and the previous iPhone 13 line-up constitute the majority of shipments,” Ram said.
The iPhone 13 series grabbed 48 percent market share in Q1 2023, followed by the iPhone 14 series at 44 percent.
For the full FY23, the iPhone 14 series registered 36 percent market share in India.
Looking ahead, Apple enjoys some favorable tailwinds in India, a strong driver of future growth.
“Backed by a healthy urban demand for premium smartphones, ‘premium’ is on the rise in the Indian smartphone market. India is witnessing good growth in domestic iPhone manufacturing, and there is a possibility of concurrent iPhone production with China on the horizon,” Ram told IANS.
Apple will open two flagship, own-branded retail stores in Mumbai and New Delhi next week.
According to reliable sources, Apple CEO Tim Cook will inaugurate Apple’s own branded retail stores at Jio World Drive Mall in Mumbai and Select Citywalk Mall in Delhi’s Saket – a first for the tech giant, which has announced its India growth plans. has doubled.
“Apple’s new flagship retail stores in Mumbai and Delhi, backed by aggressive sales initiatives, will drive Apple’s growth in the year ahead,” Ram said.
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