Apple is gaining traction in India thanks to the growing adoption of 5G smartphones, sales of which are expected to take off in India in the next five years. Apple’s Indian manufacturing efforts could help it amass a bigger share of that huge market.
Harsh Chauhan for The Motley Fool:
Emerging markets were one of the reasons behind Apple’s resilient iPhone sales performance last quarter. CEO Tim Cook said on the latest earnings conference call that Apple witnessed “very strong double-digit growth in Brazil, Indonesia, and Vietnam.” He also added that the company’s revenue in India nearly doubled. That’s something investors should take note of, as the Indian market presents a solid long-term growth opportunity for Apple…
Though the company didn’t clarify its revenue from the Indian market, estimates suggest that Apple’s revenue from its Indian operations was close to $3 billionin fiscal 2021. The tech giant’s Indian revenue reportedly increased 68% last fiscal year. In fiscal 2022 analysts expect Apple’s top line to increase another 31% in the Indian market, which would bring its revenue [in India] close to $4 billion.
Apple capitalized on higher smartphone spending in India by cornering a 44% share of the market for devices priced at $400 or higher. Smartphone ASPs can be expected to head higher in India this year as sales of entry-level devices decline, driven by the growing adoption of 5G.
Sales of 5G smartphones reportedly increased 163% year-over-year in the second quarter in India as per CyberMedia Research. Even better, sales of premium (priced between $325 and $630) and super-premium smartphones (priced between $630 and $1,260) increased 80% and 96% year-over-year, respectively.
So the conditions are ripe for Apple to step on the gas in the Indian market, and the company is pulling the right strings to ensure that it doesn’t miss out on the lucrative long-term opportunity present over there.
MacDailyNews Take: The sky’s the limit for Apple in India!
It’s nice to finally see some real progress for Apple’s iPhone taking place in India! – MacDailyNews, February 3, 2022
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Yeah? how so? The Indians Don’t make a large amount of money, A majority of them are in Desperate poverty. Think They will sign up for subscriptions? nope. Think they can afford a $1500 phone? No.
If you had ever visited India, you would know that a lot of the population are upwardly mobile and that they aspire to buy and show off desirable consumer items. The population of India is vast and a modest percentage of aspirational customers is a terrific business opportunity for Apple.
So where did the billions Apple already makes in that country come from? India’s middle class is larger than the whole population of the US. You should update your knowledge about places outside the US instead of spouting the same old stereotypical stuff.
Your thoughts maybe true, but “China” could be sub’d and it’d be essentially the same. China has experienced one of the greatest wealth transitions in modern time. India’s designation as the most populous country in the World will be here soon. It’s going to be a market that may surpass China, imo…esp considering that China is forecasted to have a population collapse in a relatively near term.
Apple directly or indirectly exploits UYGHUR SLAVES to make products.
If one owns AAPL, or uses Apple products, you “directly, or indirectly exploit (s) UYGHUR SLAVES.”
Brutal statement, but not untrue. It’s been called silent complicity.
I do not support China’s horrible treatment of UYGHUR SLAVES and many other human rights abuses. Resounding NO, not silent complicit. Excuse me, have to take this call on my iPhone…