Apple keeps on putting BRICS in the wall
Apple’s first store in Samsung country
Apple is building up its business in strategically critical places such as India and Vietnam, recent reports confirm. The company is realizing statistically significant increases in sales even as manufacturing located in those nations begins to have a statistically significant impact on the local economy.
Apple in Samsung country
In Korea, the iPhone 15 is selling like hot cakes as generous carrier incentives and the recent introduction of Apple Pay accelerate sales. Local reports claim sales of the latest models increased 41.9%, citing Atlas Research Consulting. Sales of the iPhone 15 product more than doubled in comparison to iPhone 14, while the 15 Pro Max grew 42.3%.
That’s quite a smack in the face for home team, Samsung.
Big in BRICS
Apple continues slow decline in China, where it has seen a 4.5% fall, while in Japan sales of iPhone 12 and 14 Minis are high spots in the market. Why? Because Apple’s decision not to sell a small iPhone has a big impact on consumers there, who prefer the form factor. This is generating a big increase in second user sales there.
But China continues to expand its soft power across the BRICS region. Chinese display maker and Apple supplier, BOE has recently announced a $300 million investment in its manufacturing operations there, where it will produce components, displays, TVs and more. The new facility will employ thousands and churn out an estimated 3 million televisions once it launches in 2026.
And building in India
But Apple’s work in India continues to generate statistically significant change. For example, India’s Director General of Foreign Trade, Santosh Kumar Sarangi has confirmed that an “exponential jump” in exports of elecrronics goods from India has taken place, citing Apple’s work in making iPhones there as part of this.
“The jump has been exponential and largely on account of Samsung and Apple phones being exported from our country,” Sarangi said at the India MSME Exports Summit 2023. This growth is impacting other portions of India’s economy. The DG predicts India’s current $1b ecommerce export industry will grow to become a $400b industry in the next seven years.
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