Apple Surges in Indian Smartphone Market with Record iPhone Shipments

Apple achieved a remarkable milestone by recording its highest-ever quarterly shipments in the country, even as India’s smartphone shipments remained stagnant during the July-September quarter. The tech giant dispatched more than 2.5 million units of iPhones to retail outlets and carriers, marking a substantial 34% YoY growth, according to data from Counterpoint.

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Apple reached an extraordinary achievement as it registered its all-time high in quarterly shipments, despite India’s smartphone shipments remaining flat during the July-September quarter. The technology giant distributed over 2.5 million iPhone units to retail outlets and carriers, reflecting an impressive 34% YoY growth, as per data from Counterpoint.

Several factors have contributed to Apple’s remarkable performance in the Indian market. Consumers are increasingly gravitating towards premium products, and Apple’s iPhones are emblematic of this trend. The availability of attractive financing offers has further fueled iPhone sales, making them more accessible to a broader range of consumers. The growth in iPhone shipments is anticipated to continue accelerating, as the first week of the festive season (October 8-15) saw iPhone sales surpass 1.5 million units for the first time in history.

India’s smartphone market, which had experienced a slump for almost a year, is now exhibiting signs of recovery, with a gradual increase in consumer demand as the festive season approaches, as per Counterpoint’s assessment.

The quarter also saw 5G smartphone shipments reach a 53% share of the market, driven by multiple launches in the Rs 10,000-15,000 segment. Notably, 5G penetration in the entry-level segment surged to 35%, compared to just 7% in the same period the previous year.

Shilpi Jain, a senior research analyst at Counterpoint, observed, “The market is gradually moving towards growth, and we are witnessing positive consumer sentiment during festive season sales. India’s smartphone market will experience growth in the coming quarter due to pent-up demand, an elongated festive season, and faster 5G upgrades.”

Apple’s strong performance in India, along with the rising popularity of foldable phones, contributed to the impressive 44% YoY growth in the ultra-premium segment (over Rs 45,000). This growth can be attributed to the availability of easy financing options, incentive programs, and the increasing aspirations of consumers for the latest technology.

Regarding brand-specific performance, Samsung maintained its position as the market leader for the fourth consecutive quarter, with a market share of 17.2%, followed by Xiaomi with a 16.6% share and Vivo at 15.9%. OnePlus claimed the top spot in the affordable premium segment (Rs 30,000-45,000) with a 29% share, while Vivo emerged as the fastest-growing brand among the top five, registering an 11% YoY growth.

Shubham Singh, a research analyst at Counterpoint, noted, “Aggressive push in offline through better incentives and price parity across channels, focus on the fastest growing premium segment and innovation through the latest ultra-premium offerings are some of the strategies helping Samsung stay ahead of the competition.”

Notably, Transsion’s phones experienced the fastest growth, soaring by 41% YoY during the quarter.

With the introduction of JioBharat phones priced at Rs 999, the share of 4G feature phones in the overall feature phone shipments increased to 32% in Q3 2023. This underscores the dynamic and evolving nature of the Indian smartphone market, with consumers embracing a wide range of options across different price segments.