Apple’s iPhone sales in India surge 33% Monday, July 15, 2024 2:02 pm 1 Comment
Apple sales in India surged 33% to a record $8 billion, Bloomberg News reports citing “a person familiar with the matter,” driven by local assembly and new retail stores. This boom highlights India’s fast-growing market for the Cupertino Colossus.
Sankalp Phartiyal for Bloomberg News:
Apple’s pricey iPhones accounted for more than half of the sales, said the person, who asked not to be named as the information isn’t public.
The increase signals steady progress in Apple’s effort to win users in the world’s most populous country, whose consumers are gradually gaining more purchasing power as the economy expands. The company is targeting India as a way to diversify its manufacturing and revenue sources beyond much larger market China, which has become riskier because of trade tensions with the US.
The Indian market is dominated by cheaper Chinese devices using Google’s Android mobile operating system, and iPhones make up just about 3.5% of the country’s roughly 690 million smartphones in use, according to Counterpoint Research. Even though India is one of Apple’s fastest-growing markets, the South Asian nation accounts for only about 2% of its latest fiscal-year sales of $383 billion.
MacDailyNews Take: Virtually unlimited headroom for growth awaits Apple in India!
Market Data 
Markets 
AI
