Apple iPhones Capture 7% Market Share in India for 2024, Soar 23% Year-on-Year
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Synopsis
Apple iPhones have secured a 7% market share in India's smartphone sector for 2024, reflecting a 23% year-on-year growth. The surge is attributed to strong local production and a trend toward premium devices in smaller cities.
Key Takeaways
- 7% market share in India for iPhones in 2024.
- 23% year-on-year growth for iPhones.
- 44% growth in iPad sales.
- Increased focus on domestic manufacturing.
- Entry into top 5 smartphone brands in Q4 2024.
New Delhi, Jan 30 (NationPress) Apple iPhones captured 7 percent of the India smartphone market in 2024, bolstered by strong local manufacturing and a rising trend of premium devices in smaller towns, according to a report released on Thursday.
Year-on-year, iPhones achieved a remarkable 23 percent growth, while iPads surged with an impressive 44 percent increase in the nation, as per data from CyberMedia Research (CMR) shared with IANS.
“The robust growth trajectory for Apple in CY2024, driven by double-digit growth in both iPhones and iPads, was supported by favorable trends in smartphone premiumization and a strong push for domestic manufacturing and retail expansion,” stated Prabhu Ram, VP-Industry Research Group at CyberMedia Research (CMR).
The aspirational middle class in India is progressively investing in premium technology, viewing these devices not merely as lifestyle accessories but also for their superior technological features.
“The lasting aspirational allure of iPhones and iPads remains a significant catalyst for Apple's market growth, with substantial potential for further expansion in CY2025 and beyond. Apple's journey in India is just beginning,” he added.
In the October-December quarter (Q4) of 2024, Apple, known for its aspirational branding and expanding market presence, made its debut among the top 5 smartphone manufacturers in India, achieving almost 10 percent market share by volume.
Last year, the tech behemoth set new records for both exports and domestic sales, driven by the government’s production-linked incentive (PLI) scheme and aggressive retail growth.
Apple's strategic maneuvers in India over the past year have resulted in notable accomplishments and enhanced market relevance.
In 2024, Apple’s shipments in India were projected to exceed 11 million units.
The company's growth in India is anticipated to maintain significant momentum in the upcoming year, propelled by robust retail expansion, focused marketing strategies, and deeper engagement with the aspirational Indian consumer market, as noted by Ram.
This growth is driven by strong demand for both the latest and previous generation iPhones, he remarked.
