NEW DELHI — Apple,
with its aspirational image and rising footprint, has entered the top 5
smartphone players in India for the first time, garnering nearly 10 per cent
market share by volume in the October-December quarter (Q4) of 2024, industry
data showed on Thursday.
According to Counterpoint Research, which analysed Apple's
strategic approach, the implementation of a comprehensive three-dimensional
(3D) strategy, centred around key pillars of domestic manufacturing,
distribution and driving premiumisation, has helped the brand break into the
top 5 smartphone players in the country.
“This multi-faceted approach reflects Apple's commitment to
staying ahead in the market and catering to the evolving needs of consumers.
There is a significant rise in the premium segment as we are witnessing
incremental purchase behaviour in rising middle class in India, especially
youth,” Tarun Pathak, Research Director, Mobile Devices and Ecosystems at
Counterpoint Research, told IANS.
Apple, with its aspirational image and rising footprint has
become an obvious choice for young consumers in India, especially beyond tier 2
cities.
“For Indians, the iPhone is more than a smartphone; it’s a
lifestyle statement,” said Pathak.
Driven by the government’s production-linked incentive (PLI)
scheme and rising premiumisation trend, Apple reached INR 1 lakh crore in iPhone
exports from India in the calendar year 2024. According to early industry
estimates, Apple exported more than $12 billion worth iPhones last year, which
is more than 40 per cent growth from 2023.
Apple’s domestic production has surged nearly 46 per cent
from a year ago, as per estimates. The Cupertino (California)-based tech giant
manufactured/assembled $14 billion of iPhones in India last fiscal (FY24), with
exporting more than $10 billion worth of iPhones.
Meanwhile, the Apple ecosystem has also created 1,75,000 new
direct jobs in four years with "over 72 per cent women". Apple's
strategic approach in India over the past year has resulted in significant
achievements and increased market importance, according to industry experts.
Apple's growth in India is expected to continue with
significant momentum in the coming year, driven by aggressive retail expansion,
targeted marketing strategies, and a deeper penetration into the aspirational
Indian market.
