Apple Hits Record Quarterly Smartphone Shipments in India
Apple has reached a significant milestone in the Indian smartphone market by recording its highest-ever quarterly shipments in the third quarter.
Surpassing 2.5 million units, Apple’s achievement comes at a time when the Indian smartphone market is showing signs of recovery after a period of decline, global research firm Counterpoint said in a Wednesday (Nov. 1) press release.
Apple’s focus on the premium segment and the introduction of attractive financing offers have played a crucial role in capitalizing on the growing demand for smartphones in India, according to the release.
“Premiumization has started in the world’s second largest smartphone market and Apple has again got the timing right to benefit from this trend through its devices and financing offers,” Counterpoint Research Analyst Shubham Singh said in the release.
In the third quarter, Apple experienced 34% year-on-year growth, marking its best quarter for shipments in India, according to the release.
India’s smartphone shipments remained flat in the third quarter. Still, positive indications of a recovery are emerging as consumer demand gradually picks up, particularly during the festive season, the release said. Factors such as pent-up demand, an elongated festive season, and faster 5G upgrades contribute to the market’s growth.
In terms of market share, Samsung maintained its leading position for the fourth consecutive quarter with 17.2%, per the release. Xiaomi secured the second spot with 16.6%, closely followed by vivo at 15.9%. OnePlus emerged as the top brand in the affordable premium segment, capturing a 29% share.
There has been rapid growth in 5G smartphone shipments, which reached 53% in the third quarter, driven by multiple launches in the affordable segment, according to the press release.
The ultra-premium segment witnessed 44% year-on-year growth, thanks to easy financing options, incentive programs and consumer aspirations for the latest technology, the release said. Foldable smartphones are also gaining popularity in the ultra-premium segment due to their unique form factor, with more original equipment manufacturers (OEMs) entering this space.
It was reported in April that Apple’s sales in India across its product lines had jumped almost 50% amid a retail push in that country. At that time, the company was preparing to open its first brick-and-mortar stores in India.
The post Apple Hits Record Quarterly Smartphone Shipments in India first appeared on PYMNTS.com.