India surpassed France and Germany to become Apple’s fifth largest iPhone market in the second quarter, according to Counterpoint Research. India contributed nearly 4% of all iPhone sales in the second quarter, growing 50% year-over-year.
The rapid growth in India comes as Apple expands its presence in the world’s fifth-largest economy from both a retail and manufacturing standpoint.
For Apple, India overtook Germany and France for iPhone sales in the June quarter, and is now behind the U.K., Japan, China and the U.S., Counterpoint Research told CNBC on Tuesday. It is the first time India has been one of Apple’s top five markets for iPhone sales.
India contributed close to 4% of all iPhone sales in the second quarter, according to the research firm. The firm was not able to disclose the exact number of iPhone sales but said they grew 50% year-on-year.
Apple commanded a 5.1% market share in India’s total smartphone market in the period to the end of June, versus 3.4% in the same period last year, Counterpoint Research said.
The rapid growth in India comes as Apple ramps up its presence in the world’s fifth-largest economy from both a retail and manufacturing perspective.
MacDailyNews Take: And, keep in mind, Apple only sells premium smartphones, not cheap junk, in the emerging market of India.
Apple’s iPhones have also propelled smartphones into the top-five most exported commodities from India in the fiscal year that ended in March.
The CCP’s lunacy is India’s gain. – MacDailyNews, March 3, 2023
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I had heard some people saying no one in India could afford an iPhone, so Apple was making a big mistake of dealing with India. It had something to do with nearly everyone in India had yearly salaries that barely covered the cost of an iPhone. I’ve heard so many generalizations about India that honestly didn’t make much sense as there must be plenty of professional-level employees in that population of over a billion plus citizens. I’m sure there must be quite a few educated and wealthy families in India. Anyway, Apple needs to think long-term instead of believing like some people do that India will never have financial growth.
It is the most populous country in the world, surpassing China earlier this year, with over 1.4 billion people (and growing, while China is actually declining).
India is a growing economy. It offers plenty of room for growth for Apple.