- By Prateek Levi
- Fri, 17 Jan 2025 11:16 AM (IST)
- Source:JND
Apple Enters India's Big 5: Apple has achieved yet another milestone in India, this marks the first time the company has entered the top five smartphone brands since it began selling iPhones in the country.
Given that India has a picky crowd and is a price-conscious market this is a significantly major feat that Apple has achieved.
Apple was able to secure a market share of 9-10% during the critical and indispensable festive season of September and December in 2024, a report by Economic Times states, this is a groundbreaking and historic high that the company has achieved in the India Market, as per the data obtained from IDC and Counterpoint Research. This historic success is partly due to the localization efforts that were undertaken by Apple.
Apple has been increasing its manufacturing component in India lately and the company now manufactures the iPhone 16 Pro and the iPhone 16 Pro Max in India itself with the help of Foxconn and Pegatron, to move things even further it has plans to expand the production of AirPods in Pune and will soon start full-fledged manufacturing of AirPods in Telangana itself by 2025. Even though there is some shift in production of iPads to Vietnam, Apple's made-in-India product lineup continues to grow which includes iPads and MacBooks. In fact, even the Indian government has been actively encouraging local assembly of iPads even more.
Apple's Success Story in India
As far as the financial component of its performance goes, in FY2023-2024 the company's net profit rose by 23% to Rs 2,745.7 crore, while its revenue saw a growth of 36% to Rs 67,121.6 crore, primarily driven by strong iPhone sales. According to analysts, the company will maintain its growth trajectory in the current fiscal year as well.
Apple shipped over 12 million iPhones in India in the year 2024, posting a considerable year-on-year growth of 34-35% when compared to 9 million units shipped in 2023, according to the preemptive data provided by IDC which is also supported by CounterPoint Research.
Speaking of the overall market trend for smartphones in India, it also saw growth, with an estimate of 38 million units shipped in Q4 2024, as per data from IDC, which is a 5-6% year-on-year growth, following a good 46 million units shipped in Q3 2024.
