Market researcher Counterpoint expects Apple to gain a larger share of India’s smartphone market, with the high-end iPhone 15 Pro and flagship iPhone 15 Pro Max models in strong demand.
The company is projected to account for 7% of all smartphone sales in the country from July to December, up from 5% in the first half of 2023, according to data from market researcher Counterpoint shared exclusively with Reuters.
Wait times in India for Apple’s latest 15 Pro and Pro Max models, that go on sale Friday, are stretching up to late October, mirroring trends seen in China and the U.S.
Counterpoint estimated the models will account for 25% of overall iPhone 15 shipments in India in the fourth quarter, a 4% increase from what the previous generation top-range models accounted for a year earlier.
“The premium smartphone market in India has climbed tremendously from 0.8% of the total market in 2019 to 6.1% in the first half of 2023 and this is largely attributed to Apple’s success,” Nabila Popal, a research director at market intelligence firm IDC, said.
Apple is the largest player in the segment for smartphones priced over $800 in India, with a 67% share in the first half, according to IDC data.
MacDailyNews Take: This is rapid growth. In a July note to clients, Morgan Stanley analysts estimated that India could account for 15% of Apple’s revenue growth and 20% of its installed base growth over the next five years.
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