New Delhi: Maintaining its growth trajectory in the highly-congested premium smartphone segment in India, Apple garnered 51.3 per cent share in the ₹35,000 and above price segment in the third quarter that ended on 30 September.
This is the second consecutive quarter growth for the Cupertino-based iPhone maker which bounced back in a market -- dominated to date by the likes of Samsung, OnePlus and others -- riding on heavy promotional offers especially on iPhone XR and the newly-launched iPhone 11.
"In the premium segment, Apple continued to dominate with a market share of 51.3 per cent in 2Q19, on the back of affordability offers and price drops on previous generation models like the iPhone XR, iPhone 8 and iPhone 7 (128GB), along with the newly-launched iPhone 11/Pro series," the International Data Corporation (IDC) said in a statement.
Apple regained top position in the premium smartphone segment in India in the second quarter (Q2 that ended on 30 June) this year with an overall share of 41.2 per cent.
The over 10 per cent rise in its market share in the premium smartphone segment in just three months is phenomenal and the company is back on India map after couple of lacklustre quarters.
According to Upasana Joshi, Associate Research Manager, Client Devices, IDC India, the sweet spot for Apple in India market lies within $750-$850 segment and the higher-priced models (above $1,000) are still unable to create similar demand in a price-conscious India market.
"To continue this momentum, Apple would require more play in terms of product placement in $700 and above segment accompanied by heavy promotional activities and attractive offers during the upcoming festive quarters," Joshi told IANS.
In a big impetus for its India manufacturing dream, Apple has started production of its highly successful iPhone XR at its supplier Foxconn's facility in Sriperumbudur, Chennai.
Apple registered a new record in India in its fiscal Q4 quarter and the company generated an all-time revenue record for the Mac desktops in the country.
The July-September period saw Apple log record revenue in the country and is set to break the numbers in its fiscal 2020 Q1 (October-December period) as iPhone 11 series has witnessed stupendous response from the Indian buyers.
Apple iPhone shipments grew 19 percent (YoY) in India in its last reported quarter.
Apple in August said it looks forward to welcoming customers at its first branded retail store in India soon.
According to Navkendar Singh, Research Director, Client Devices and IPDS, IDC India, "We expect the smartphone market to see only mid-to-high single digit YoY growth for the year 2019.
"This can be attributed to a strong undercurrent of passive consumer sentiment and muted shipments in the last quarter of the year due to a record 3Q19 when channel stock levels went up," he added.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.