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Apple India may cross Rs 30,000 crore revenue in FY2022

Apple India may cross Rs 30,000 crore revenue in FY2022

With its revenue nearly doubling in the first half of FY2022 and continued surge in its volume uptake, the consumer tech major is set to grow its topline by healthy double digit.

As per Tim Cook's announcements, during the first six months of FY2022, Apple's India sales have nearly doubled. As per Tim Cook's announcements, during the first six months of FY2022, Apple's India sales have nearly doubled.

After clocking record sales last year, consumer technology giant Apple is set to break its own sales record in FY2022 in India. 

Buoyed on continued surge in demand for its iPhones, Macs and iPads, the local unit of Cupertino-based company is set to cross Rs 30,000 crore revenue mark in the current fiscal.

While last year, its operating revenue in India grew by a whopping 68 per cent - highest jump in nine years - to Rs 22,845 crore. This time, it is expected to grow its sales by at least a third (33 per cent) - taking its India revenue beyond Rs 30,000 crore for the first time, industry experts estimate.

As per Tim Cook's announcements, during the first six months of FY2022, Apple's India sales have nearly doubled.

Data on its volume update shows, sales of its premium Mac portfolio in the country's personal computers market has jumped by over 200 per cent. 

According to IDC, Apple held an unprecedented 5 per cent share of the local PC market between April-September.

After clocking a 3.2 million unit sales in 2020, sales of iPhones - the largest revenue generators for Apple - is set to cross five million units in the calendar year 2021, industry watcher CyberMedia Research estimates. Which means, its iPhone sales in the first nine months of the year are set to jump by over 50 per cent.

In tablets, where Apple India had been a laggard for years, the company has clocked 24 per cent market share - up from its record 17 per cent market share in 2020, Prabhu Ram, head of industry intelligence group at CMR told Business Today.

"Apple is set to post record sales of its iPhones and iPads - ending the year with 3.5 per cent and 24 per cent share of the overall smartphones and tablets markets, respectively. And with its constant push for local sourcing, its newer models are hitting the local market faster - boosting prospects of greater sales. We will also see more aggressive marketing initiatives in 2022", he said.

According to Tarun Pathak, research director at Counterpoint Research, a "resilient supply chain", amid the component shortage crises kept Apple going in India. 

"Secondly, in India, the pandemic-induced surge in demand for premium products is boosting sales of its products. Further, this time they planned the price cuts and offers on iPhones better than the past, which ensured higher sales," he told Business Today.

Additionally, low performing categories like iPads and Apple Watch performed significantly well in 2021. As per IDC, Apple held 39 per cent share of the smart watch market till September quarter.

Apple's successful management of the supply side constraints in 2021, has ensured that the company does not lose the momentum that it had gathered in 2020. This, according to Ram from CMR, is a key factor that is boosting its fortunes in the country.

In fact, to ensure record sales of its newly introduced iPhone 13s during the festive season, Apple shipped in a record 600,000 handsets initially. 

As per CMR, iPhone 12 series became the most sold iPhone models even before the iPhone 13s were launched in October. This indicates towards a new trend, where latest iPhone models take the front seat on driving Apple's sales in India.

While off take numbers for iPhone 13s in the crucial October-December quarter is still awaited, industry experts said Apple might have sold a record number of new iPhones this time.

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Published on: Jan 15, 2022, 4:28 PM IST
Posted by: Mohammad Haaris Beg, Jan 15, 2022, 4:20 PM IST