Apple Inc (AAPL)

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Apple’s iPhone sales in India increase 34% to new all-time record
Thursday, February 3, 2022 1:20 pm

Apple posted its strongest quarter for iPhone sales in India as sales increased 34% year over year to 2.3 million units in the fourth quarter of 2021.

Saritha Rai for Bloomberg News:

Sales increased to 2.3 million units in the fourth quarter, up 34% from a year earlier, according to numbers from the market research firm Counterpoint.

China’s Xiaomi Corp. and South Korea’s Samsung Electronics Co. sold 9.3 million and 7.2 million smartphones for the quarter respectively, leading in terms of units.

The U.S. company took in an estimated $2.09 billion for the quarter, edging aside Samsung with revenue of about $2 billion.

MacDailyNews Take: iPhone knockoff peddlers Xiaomi and Samsung aren’t making it up in volume.

During the recent October to December period, India’s festival buying and gifting season, the phone maker priced its basic iPhone 12 model at less than 50,000 rupees ($668), offering cashback incentives and easy payment plans.

Apple is still a tough sell in a country where per-capita income was under $2,000 in 2020, according to World Bank data. For the most recent quarter, the average iPhone selling price in the country was $908, while Samsung’s was $278 and Xiaomi’s was $172, according to Counterpoint…

While Apple’s market share has climbed, it remains in the single digits at just over 5% for the quarter.

MacDailyNews Take: It’s nice to finally see some real progress for Apple’s iPhone taking place in India!

https://macdailynews.com/2022/02/03/apples-iphone-sales-in-india-increase-34-to-new-all-time-record/