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According to Canalys research, Apple achieved record shipments in the Indian smartphone market in the fourth quarter of 2023, gaining a significant market share of 7%. According to Hindustan Times, this achievement shows Apple’s concerted efforts to increase its presence in one of the world’s fastest growing smartphone markets.
Festival sales drive growth
From October to December, India is full of festivities, the most famous of which is Diwali. Taking advantage of this opportunity, Apple strategically launched its latest iPhone 15 series, capitalizing on the increase in consumer spending during the holiday season. This move was important in increasing sales and significantly increasing Apple’s market share.
According to a report by Canalys, Indian smartphone vendors experienced strong demand during the Christmas quarter, with shipments reaching a staggering 3.89 billion units, representing a significant 20% year-on-year increase. Apple has been able to carve out a significant portion of this rapidly growing market through its attractive product offerings and strategic marketing efforts. This shows the growing brand preference for Apple among Indian consumers.
Success of iPhone 15 series
The exceptional performance of Apple’s iPhone 15 series was a hallmark of the company’s success story in India in Q4 2023. These latest Apple products accounted for more than half of the company’s shipments during the holiday shopping season. The appeal of the iPhone 15 series, coupled with attractive promotional offers and discounts on previous generation models such as iPhone 14 and iPhone 13, boosted Apple’s sales and solidified its position in the Indian market.
Market dynamics and competition
Despite Apple’s commendable performance, Samsung maintained its lead in the Indian smartphone market in Q4 2023, gaining a significant market share of 20%. Xiaomi and Vivo came in second and third place for him, showing the intensity of competition in the Indian smartphone market. Other players such as Realme and OPPO also contributed significantly to the market, demonstrating the diversity and competitiveness of the industry.
Canalys predicts mid-single-digit growth for the Indian smartphone market in 2024. This growth is expected to be driven by factors such as affordability of 5G devices and post-pandemic replacement cycles. However, vendors are likely to face challenges in managing rising material costs next year.
Apple’s record shipments and significant market share in India in Q4 2023 demonstrate the company’s growing presence and appeal in one of the world’s largest smartphone markets. Despite intense competition from other industry players, Apple continues to make significant strides in the Indian smartphone market through strategic promotions and an attractive product lineup.
Also read: What to eat on Lunar New Year 2024?Explore the most popular delicacies to savor on this special occasion
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