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Business News/ Technology / News/ Apple's market share in India set to rise as iPhone 15 lineup goes on sale today

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Apple's market share in India set to rise as iPhone 15 lineup goes on sale today

1 min read 22 Sep 2023, 12:23 PM IST Join us

Edited By Aman Gupta

Apple's flagship smartphones, including the iPhone 15 Pro and Pro Max, have gone on sale in India, with the company expected to increase its market share from 5% to 7% by the end of 2023.

Customers hold newly purchased iPhone 15 smartphones at an Apple Inc. store during the device's first day of sale in Mumbai, India, on Friday, Sept. 22, 2023. Apple's latest iPhones and watches went on sale today, a test of whether a new smartphone design and modest smartwatch changes can help return the company to growth. Photographer: Dhiraj Singh/Bloomberg (Bloomberg) — Customers hold newly purchased iPhone 15 smartphones at an Apple Inc. store during the device's first day of sale in Mumbai, India, on Friday, Sept. 22, 2023. Apple's latest iPhones and watches went on sale today, a test of whether a new smartphone design and modest smartwatch changes can help return the company to growth. Photographer: Dhiraj Singh/Bloomberg **(Bloomberg)**

Apple is expected to make significant inroads into the Indian smartphone market as the company's flagship smartphone range went on sale today. The iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max were made available in India at the company's official stores in Delhi and Mumbai and on the official Apple website.

Also Read: iPhone 15 Sale Live updates

Apple's market share is expected to rise from 5% in the first half of 2023 to around 7% in the July-December period of the same year, according to data from Counterpoint Research cited by news agency Reuters.

The report also notes that demand for Apple's iPhone 15 Pro and Pro Max models is high, with waiting times rising to the end of October, similar to trends in China and the US.

Furthermore, Counterpoint data shows that iPhone 15 Pro models will account for around 25% of Apple's total shipments in the fourth quarter. This represents an increase of 4% over the iPhone 14 Pro models released last year.

Apple's success in India has largely been attributed to the growth of the premium smartphone segment in India, noted Nabila Popal, Research director at market intelligence company IDC. He said, "The premium smartphone market in India has climbed tremendously from 0.8% of the total market in 2019 to 6.1% in the first half of 2023 and this is largely attributed to Apple's success,"

Apple looking at India as a driver for growth:

The Reuters report noted that Apple is the biggest player in the above $800 market with a share of 67% in the first half of 2023. Meanwhile, South Korean smartphone maker Samsung accounted for nearly 31% of the market share in the same segment.

Apple has been looking at India as one of the big growth drivers amid weakening demand and regulatory pressures in China, reported Reuters. The company also opened its first two outlets in the country earlier this year and CEO Tim Cook had noted that Apple had hit ‘record’ revenue in the country during the June quarter.