Apple outshines Samsung in India with surging iPhone shipments

• News

Apple continues its impressive run in its next big growth market, India, shipping over 9 million units from January to September 2024. This represents a 35% YoY growth for the iPhone’s shipments in the country.

The company also increased its lead over Samsung, the previous leader in India’s smartphone market.

iPhones dominate the high-end market in India

iPhone demand has surged in India over the last few years. The surge in iPhone sales shows that India is on track to become Apple’s next big growth market. In the last decade, a big chunk of Apple’s enormous revenues came from another rapidly-growing market: China. India is next.

Despite being expensive, Apple devices are seen as an aspirational product in the country. Broader availability, rising consumer purchasing power, and improved financing options are making it easier for more customers to purchase iPhones.

As per IDC, Apple grabbed 28.7% of the smartphone market in India in Q3 2024. In comparison, Samsung’s share eroded to 15.2%, down by 7.3% from Q1. The gap will only grow further, as the October-December quarter is typically the strongest one for Apple.

In Q3, the company reportedly shipped 4 million devices, with the iPhone 15 and iPhone 13 being the hottest sellers. This is apparently the highest number of iPhones the company has ever shipped in a quarter.

In the same period, Samsung’s shipments declined by 20%, leading to its market share reducing to 12.3%. Apart from Apple in the high-end, Samsung is facing stiff competition from Chinese players in the low- and mid-range segment.

Apple enjoys a high ASP in India

Despite India being a price-sensitive market, Apple’s ASP (Average Selling Price) in the country hovers around $950, reports MoneyControl. That’s almost three times more than Samsung’s ASP of $320-$350.

IDC analysts predict the company could ship over 12 million iPhones this calendar year, a notable increase from 9 million in 2023. Apple already saw its revenue soar 33%, hitting a record high in India in the last fiscal year.

Apple still trails other Chinese brands like Oppo, Vivo, and Realme in India. Overall, the company is the sixth-largest smartphone brand in the country, with an 8.6% market share. However, it registered an impressive 58.5% growth year over year.

Thanks to the strong demand, Apple wants to grow its retail footprint in India. The company currently operates two retail stores directly in the country, with plans to open four more stores in 2025.