After registering a double-digit revenue growth in India in the quarter ending June, Apple has doubled its business in India in fiscal 2021. While posting the September quarter earnings, Apple CEO Tim Cook said, “We set quarterly records in every geographic segment with strong double-digit growth across the board" and that during fiscal 2021, they earned nearly one-third of their revenue from emerging markets. Apple doubled its business in India and Vietnam, he said. India’s leading Research firm CyberMedia Research echoes the sentiment and states that Apple is on course for its “best show ever” in India this year.
“In Q3 2021, Apple continued its exceptional run in India, leveraging on its aspirational appeal amongst consumers in the earlier-than-usual festive season sales. The older-generation iPhones, especially the iPhone 12, contributed to Apple's success in the quarter, alongside the iPhone 11. What’s working for Apple is the increased share of local assembly, strong retail initiatives including on the online store, and aggressive marketing initiatives during the festive sales. Despite the current supply side dynamics, Apple is doing well and is on course for its best showing ever in India,” said Prabhu Ram, Head – Industry Intelligence Group at CMR.
Going by the statistics, Ram shared that before the earnings call for July-September quarter, Apple posted record shipments. Apple’s success in the quarter was driven by the stellar performance of the iPhone 12 (31 per cent market share) alongside the iPhone 11 (28 per cent market share). In addition, the Apple iPhone shipments registered a whopping 150 per cent QoQ growth, and 28 per cent YoY growth.
It’s not just the iPhones but the iPad too that contributed to the business growth. On the back of continued work, learning and unwinding routines at home, and driven by consumer yearning for large screens, Apple iPad shipments grew a stupendous 109 per cent QoQ, and 47 per cent YoY. The Apple iPad Air 2020 and Apple iPad Pro 2021 were the key contributors to Apple's market success.
And for the entire year, CMR estimates iPhones to garner a 3.5 per cent market share, with iPhone shipments potentially touching the 5 million mark. Apple iPads, on the other hand, are on track to garner a 22 per cent market share.
“Apple had the strongest lineup in India in the past year that contributed to the growth. Apart from this, the pandemic-induced trends worked in favor of iPad, Mac, Airpod, and services growth as well in India. The strong product demand along with a dedicated channel strategy helped Apple to grow in India. Apple had a very successful quarter in terms of iPhones with shipments crossing a record 2 million units for the first time in a single quarter. iPhone 11 and 12 contributed almost 62 per cent of that. The recent quarter was the best for Apple in India ever since. The festive season full impact will be reflected in the next quarter and we believe that iPhone 12 is likely to lead within portfolio sales,” told Tarun Pathak, Research Director at Counterpoint Research to Business Today.
Apple has been on a record quarter spree in India. The company recorded a stellar January-March quarter, followed by double-digit revenue growth in India in its quarter ending June 26. Apple has continued its strong momentum in India, building on its aspirational appeal amongst consumers in the earlier-than-usual festive season sales.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today