Even amid COVID-19 pandemic, lockdown and supply constraints, Apple has enjoyed a stellar, breakthrough year in the Indian market. After a record September quarter, Apple doubled its market share in India, growing an impressive 100 per cent year-on-year during Q4 2020, and over 60 per cent year-on-year growth in the calendar year 2020.
"On the back of the enduring aspirational appeal of iPhones, Apple improved its market performance due to increased local manufacturing and strong marketing initiatives, including attractive and aggressive price offers. In particular, the new 5G-capable Apple iPhone 12 series shipments saw high interest and it did well, accounting for over 30 per cent of overall iPhone shipments during Q4 2020," says Prabhu Ram, Head- Industry Intelligence Group (IIG), CMR.
The older generation, popular iPhone SE 2020, iPhone 11, and iPhone XR together accounted for over 60 per cent of iPhone shipments during the quarter, driven by aggressive and attractive offers during the festive season.
"There are a couple of reasons that lead to a record quarter for Apple in India. iPhone 12 started really well in India and iPhone 11's longevity. Apple had the most diverse portfolio ever with iPhone SE 2020 and iPhone XR catering to users willing to enter the iPhone ecosystem at lower price tiers. Plus the demand for iPad, iMac, wearables also boosted its revenues aided by new work from home/e-learning trends amid the pandemic times," explains Tarun Pathak, Associate Director, Counterpoint Research.
Additionally, other than the online store, other channel promotions like cashback, trade-in and EMI offers were strong. "And if not for the supply crunch this growth would have been better. For example, the iPhone Pro and Pro Max are running short on supply," adds Pathak.
Apple CEO Tim Cook had mentioned India while responding to an analyst during today's earnings call. He said, "If you take India for example, we doubled our business last quarter compared to a year ago but our absolute level of business there is still quite low relative to the size of the opportunity."
As the Apple iPhone shipments grew over 130 per cent year-on-year during Q4 2020, and over 40 per cent year-on-year in the full year, the industry is expecting Apple continue with the growth momentum in 2021 as well. "Apple is on track to grow further and gain strength in the year ahead as it unveils its new India initiatives on the back of its new online store, and upcoming flagship retail stores," says Ram.
Also read: Apple registers double-digit growth, all-time record revenue of $111.4 billion
Also read: Apple doubles business in India in Oct-Dec 2020 quarter, says Tim Cook
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today