Apple shifts 1.5 million iPhones in India’s shopping season
Apple’s adventures in India continue to yield positive results, with the company shifting 1.5 million iPhones during the first week of India’s annual shopping season.
Whatever the plan was, it’s working
This is a big deal for Apple. Not only is this the first time the company has achieved such numbers during this crirical season, but it also reflects well on the work it has been doing in India.
This season is also different as sales generally have been driven by strong demand for higher end smartphones from Apple, and also competitors Samsung and Xiamou. The premium smartphone market grew 50% year on year on Flipkart, driven by iPhone 14 and Galaxy S21, Counterpoint said.
On Amazon, the segment grew even more, with 200% increase in premium smartphone sales, this time led by iPhone 13. Around 80% of the smartphones sold by both online retailers were 5G-enabled.
“Online channels, which experienced slow demand throughout the year, registered a bigger than expected surge in demand, prompting them to raise prices from the third day of the sales week,” Counterpoint said.
The research firm predicts that the festive season smartphone sales this year will climb 7%, driven by demand for premium devices. That’s music to Apple’s ears.
Think about tomorrow
To put all this data into context, back in 2020 Apple doubled its market share in India with 1.5 million iPhone sales in three months. Now it has achieved that same number in seven days. It seems possible, but not definite, the company will reveal a little more detail concerning its India business during its next fiscal call.
Meanwhile, in related news, Foxconn’s India representative V Lee published photos of the recently concluded Hon Hai Technology Day 2023 that took place on October 18 and captioned it, “Great event with so much India ambitions, beginning of the Bharat era, devoting to EVs and semiconductors.”
That’s a pretty positive indicator that Foxconn intends to beef up its already big investments in India, particularly around electronic vehicle production, but also increasing its manufacturing of Apple products.
More on Apple in India in our dedicated feed, here.
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