Apple’s iPhone has hit a significant milestone in India, marking its highest-ever quarterly shipments in the country. According to Counterpoint’s Monthly India Smartphone Tracker, Apple shipped over 2.5 million units in Q3 2023, showcasing a robust 34% YoY growth. This achievement comes amidst a flat YoY growth in India’s overall smartphone market.
What to know? The report highlights that while the Indian smartphone market remained stagnant in Q3 2023, Apple’s impressive performance indicates a growing premiumization trend in the country. Apple’s timely offerings, coupled with attractive financing options, have played a pivotal role in capturing the Indian audience’s attention.
The tech giant’s success in India is not just a testament to its global brand appeal but also its strategic approach to one of the world’s largest smartphone markets.
Samsung led the market with a 17.2% share, closely followed by Xiaomi at 16.6%. Vivo, which secured the third spot, was the fastest-growing brand among the top five with an 11% YoY growth. The report also sheds light on the increasing demand for 5G smartphones, with shipments accounting for 53% in Q3 2023, especially in the budget segment.
In summary, while the Indian smartphone market showed signs of stagnation, Apple’s record-breaking shipments underscore its growing dominance and the Indian consumers’ evolving preference for premium devices.
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