Recently, Tata Group took over Wistron’s operations becoming the first Indian company to manufacture Apple’s iPhones locally. The Cupertino-based tech giant has been largely focussing on the Indian market as it opened two retail stores in the country earlier this year. Additionally, Apple sold Made In India iPhone 15 on the launch date for the first time this year. The company has also been repeaing the benefits of its efforts. Now, Apple’s third-quarter performance results are out.
Apple registers best quarterly performance in India
During the third quarter of this year i.e. the period between July to September, Apple recorded the highest-ever quarterly shipments in India. Research firm Counterpoint revealed that the company sold more than 2.5 million iPhone units during the three-month period. It indicated a 34 percent year-on-year growth compared to the corresponding quarter last year.
While the global smartphone market experiences headwinds due to various factors, Apple’s significant growth in India is great news for the company. However, the Cupertino-based tech giant still continues to have a single-digit market share in the country. It is said to grow to 6 percent from 4.5 percent last year. Apple’s growth is reportedly attributed to consumers’ shifting preferences towards premium smartphones due to financing schemes, discounts, and various offers.
Counterpoint revealed to TechCrunch that the iPhone 14 Pro accounted for more than a third of iPhone shipments in 2023. Apple is also said to grow by 38 percent in India although the overall smartphone market will contract by 5 percent in 2023.
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