iPhones Capture 7% of India's Smartphone Market in 2024, Show 23% YoY Growth

​​​​​​​The Cupertino-based tech giant had clocked nearly $8 billion in revenue from India in FY24.

Buoyed by the friendly PLI scheme from the government, Apple's iPhone market in India is set to touch 7 percent by the year-end, with the company now likely to report revenue of $9 billion by the end of this year, industry data revealed on Friday.

The Cupertino-based tech giant had clocked nearly $8 billion in revenue from India in FY24.

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The company witnessed record export numbers, totaling $3.8 billion in the April-June period, or Q2 FY25, in the country.

According to CyberMedia Research (CMR) VP-Industry Research Group Prabhu Ram, Apple's performance for the April-June period was a tale of two contrasting fortunes.

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The iPad segment, he said, witnessed a remarkable year-on-year growth of 40 percent, primarily driven by the success of the iPad 10 and its new variants.

The Mac also continued to gain relevance in the constantly changing workplace.

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"The long-term growth outlook remains positive, with Apple well-positioned to capitalize on India's growth trajectory over the next decade," he noted.

In 2023, Counterpoint's monthly India Smartphone Tracker reported that Apple's shipments reached 10 million units in one full year.

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In the April-June quarter, Apple saw a dip in offline sales due to fewer promotions and adverse seasonal demand conditions, including heatwaves in some regions.

"However, e-commerce sales rose during this period. Despite this, the iPhone 15 remained Apple's best-selling phone, primarily due to its many improvements over prior models. This allowed Apple to close the quarter with record revenue.

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Meanwhile, demand for the older models was relatively lower," Counterpoint Research Director Tarun Pathak told IANS.

Apple has again set a quarterly revenue record in India, said Apple CEO Tim Cook.

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