Apple's iPhones May Be Expensive But Tech Giant's Growth Is Outpacing Chinese Rivals In India

Apple’s revenue from smartphone sales in India grew a healthy 27% year on year in the 2022 calendar year, while Samsung’s revenue grew 14% in the same period.

What Happened? Per Counterpoint Research data, both Samsung and Apple managed to beat their Chinese rivals Xiaomi and Vivo in smartphone revenue growth.

Data shows that Samsung earned over $8 billion (₹65,543.5 crore) in smartphone revenue last year. The Korean smartphone giant added 3 percentage points in 2022 to bolster its market share to 22%.

Apple, meanwhile, raked in over $6 billion (₹49,164.75 crore) last year, capturing 18% of the revenue cake. The Cupertino giant added 4 percentage points to its score in 2022.

Read next: Apple And Its Supplier Score Win With Karnataka Labour Reforms: What iPhone Maker Stands To Gain

According to Counterpoint Research data, Samsung’s revenue growth was down to strong numbers in the premium segment. Apple’s growth, on the other hand, was down to an improved offline presence.

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Data also shows that Apple’s iPhone 13 was the highest-selling smartphone for the company in 2022. This was due to consumers' appetite for high-end smartphones and Apple's strong expansion in large-format retail stores and festive discount sales.

Tim Cook in an analysts' call in early February announced that Apple is set to launch its first physical retail store in Mumbai soon. The Apple CEO added that he is "even more bullish" on the company's growth in the country following the success of its online store.

Read next: Apple Makes India Its Own Sales Region As It Seeks To Give The Country ‘Increased Prominence'

Posted In: AppleSamsungSmartphone revenueVivoXiaomi