Apple has conquered an important peak in its activities in the Indian smartphone market, ensuring record volumes of shipments of relevant devices to this South Asian country in the third quarter of 2023.
This American technology giant, based in Cupertino, California, supplied 2.5 million smartphones to India between July and September. The relevant information is contained in the press release of the global research firm Counterpoint, which was published last Wednesday, November 1. This undeniable achievement has concrete practical significance for the technology giant and at the same time contains a certain symbolic meaning, expressed in the fact that the company was able to rise to a height that strengthens its position in the South Asian country and reinforces the status of one of the main smartphone manufacturers in the minds of local consumers.
The record for shipments was recorded when there were signs of recovery in the mobile phone market in India after a period of significant decline.
The press release of the mentioned research firm indicates that the result of the technology giant is due to two factors. According to Counterpoint experts, in this case, the positive circumstance was the brand’s focus on the premium segment of products. The press release indicates that the second favorable factor is the decision to introduce attractive financial offers for Indian buyers. This tactic of the technology giant, combined with the beginning of the trend of restoring demand in the smartphone market of the South Asian country, has become a kind of base for achieving a record supply figure.
Counterpoint Research analyst Shubham Singh said in a press release that a process has started in India, which he described as premiumization. This means a significant increase in the level of consumer interest in premium products. According to the analyst, Apple, realizing the vector of market realities in the South Asian country, made the right decisions that allowed it to benefit from the mentioned trend.
Shubham Singh noted that the brand’s premium products and lucrative financial offers created an opportunity to use the market move in the material interests of the company. To paraphrase the analyst’s statements, it can say that the technology giant has symbolically conquered the wave of transformation of consumer preferences in India.
The Counterpoint press release contains information that according to the results of the third quarter of 2023, the firm’s business showed growth of 34% year-on-year.
Currently, the Indian smartphone market is the second largest in the world. The press release of the mentioned research firm indicates that the positive trend of consumer demand recovery in this commercial space is due to factors such as the prolonged holiday season, high rates of 5G updates, and pent-up consumer activity.
Currently, Samsung is the leader in the Indian smartphone market. Its share of presence in this commercial space is 17%. The company holds the leading position for the fourth quarter in a row.
The second place in terms of the scale of presence in the Indian smartphone market is taken by Xiaomi. The share of this company is 16.6%.
The leader of the premium segment of the Indian smartphone market is OnePlus. The share of this company is 29%. A Counterpoint press release indicates that in the premium segment of the Indian smartphone market, an increase in sales was recorded in the third quarter, amounting to 44% year-on-year. According to experts, the growth dynamic in this case is the result of the introduction of simple solutions regarding the financing of purchases, and the launch of programs to stimulate consumer activity and is based on the trend of striving for new-generation technologies.
Also in the ultra-premium segment, foldable smartphones are popular. According to experts, in this case, consumer interest is directed to the unique form factor of devices.
Counterpoint’s press release also notes that following the results of the third quarter, an increase in the volume of shipments of 5G smartphones to India was recorded. The increase in this indicator was 53% year-on-year.
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