Apple has hit a major milestone in India, breaking into the top five smartphone brands for the first time since it started selling iPhones in the country, according to a report by Moneycontrol.
The tech giant achieved an impressive 9-10 per cent market share in India during the festive September–December quarter of 2024, according to data from market trackers IDC and Counterpoint Research, reported by Moneycontrol.
Apple’s growth was fueled by festive discounts, affordable offers like 24-month no-cost EMIs, and strong online deals, which boosted sales across India. Upasana Joshi, Research Director at IDC, noted that Apple’s focus on older models, such as the iPhone 15 and iPhone 13, played a key role in its rise.
Apple’s growth driven by youth
The trend of increasing premium smartphone sales in India also benefited Apple, especially among the youth and middle class. Tarun Pathak, Research Director at Counterpoint, pointed out that for many consumers in Tier-II cities and beyond, owning an iPhone is seen as a lifestyle statement.
Apple’s growth in India is part of its global strategy, with India set to become the company’s third-largest market by 2026. In 2024, Apple shipped over 12 million iPhones in India, marking a strong 34–35 per cent growth from the previous year.
Apple’s local manufacturing boosts growth
Apple’s focus on local manufacturing also contributed to its success. In 2024, the company began producing the iPhone 16 Pro and iPhone 16 Pro Max in India and is expanding its production of AirPods and other devices. The company is also increasing its local manufacturing portfolio, including iPads and MacBooks.
As a result of these efforts, Apple’s net profit surged 23 per cent to Rs 2,745.7 crore in FY2023-24, driven by higher iPhone sales. Analysts predict that Apple’s revenues and profits will continue to rise as the company strengthens its position in India.