Yoodley is reader-supported. When you buy through links on our site, we may earn an affiliate commission.
“Experiencing a high-growth phase in India, Apple recorded 34% YoY growth,” Counterpoint wrote in a report. “Q3 2023 also marked the best quarter for Apple’s shipments in the country, which crossed 2.5 million units.”
Counterpoint also said that there is a growing premium trend in India, which is benefitting Apple. As per the research firm, the ultra-premiumization trend is “steadily gaining momentum with each passing quarter.” In the quarter it observed alone, it recorded a total of 44% YoY growth. The company attributed this to the convenient financing options, incentive programs, and consumer’s interest in the latest technology.
“Premiumization has started in the world’s second largest smartphone market and Apple has again got the timing right to benefit from this trend through its devices and financing offers,” it added.
On a side note, Apple remains an underdog in the Indian market, with Samsung taking the lead. Despite the huge smartphone shipments in Q3, the Cupertino company failed to enter the top 5 biggest players in India’s smartphone market. According to Counterpoint, Samsung maintains its position at 17.2%, followed by Xiaomi (16.6%), Vivo (15.9%), Realme (14.4%), and Oppo (9.8%. In general, the report stressed that the market’s smartphone shipments “remained flat” in Q3.