Apple Breaks Into India's Top 5 Smartphone Market with 10% Share

New Delhi, Jan 16 (NationPress) Apple, known for its aspirational branding and expanding presence, has achieved a remarkable milestone by entering the top 5 smartphone manufacturers in India for the first time, capturing nearly 10 percent of the market share by volume during the October-December quarter (Q4) of 2024, as reported by industry data on Thursday.

As per Counterpoint Research, which assessed Apple's strategic tactics, the execution of a comprehensive three-dimensional (3D) strategy—focused on key aspects of domestic production, distribution, and premiumization—has enabled the brand to secure its place among the top 5 smartphone vendors in the nation.

“This multifaceted strategy signifies Apple's dedication to leading the market and addressing the changing demands of consumers. We are observing a substantial growth in the premium segment, particularly among the rising middle class and youth in India,” stated Tarun Pathak, Research Director, Mobile Devices and Ecosystems at Counterpoint Research, in an interview with IANS.

With its aspirational branding and growing influence, Apple has become a preferred choice for young consumers in India, especially in areas beyond tier 2 cities.

“To many Indians, the iPhone transcends being just a smartphone; it symbolizes a lifestyle,” Pathak remarked.

Propelled by the government's production-linked incentive (PLI) initiative and the rising trend of premiumization, Apple achieved a remarkable Rs 1 lakh crore in iPhone exports from India in calendar year 2024. Preliminary industry estimates indicate that Apple exported over $12 billion worth of iPhones last year, marking a growth of over 40 percent from 2023.

Estimates suggest that Apple's domestic production has surged by nearly 46 percent compared to the previous year. The tech giant based in Cupertino, California, manufactured or assembled $14 billion worth of iPhones in India during the last fiscal year (FY24), exporting more than $10 billion worth of iPhones.

Moreover, the Apple ecosystem has generated 175,000 new direct jobs over the past four years, with more than 72 percent of these positions filled by women. According to industry experts, Apple's strategic initiatives in India over the last year have led to significant accomplishments and heightened market relevance.

Looking ahead, Apple's growth trajectory in India is poised to maintain significant momentum, fueled by aggressive retail expansion, targeted marketing approaches, and deeper engagement with the aspirational Indian market.