And now, with an upsurge in pre-orders for the company's 'Make in India' iPhone 16 in the country, where Apple is stepping up to make its latest iPhone line-up available on September 20, trade analysts said on Thursday adding that the new devices are all set to break previous export records.
Irrespective of the trend of channel checks that seem to be ongoing, even iPhone 16 Pro models are witnessing good buyer traction due to strategic and accessible pricing compared to the 15 series. The new iPhones will be available at Apple retail and online stores in India. These include Apple BKC (Mumbai) and Apple Saket (New Delhi) among the others. They can also be availed through the company's authorized sellers. The pre-order demand for the base iPhone 16 model remains strong, especially compared to last year. With attractive financing options, the new 16 series is poised to break previous records, says Counterpoint Research Director Tarun Pathak.
Analysts expect healthy upgrade this year for Apple in the country. The momentum is good with the thrust of the government on local manufacturing because the iPhone 16 models are being manufactured/assembled in India with simultaneous availability along with the global market. According to Prabhu Ram, VP-Industry Research Group, CyberMedia Research (CMR), "Apple is benefiting from the strong tailwinds rising from the premiumisation wave in the Indian smartphone market".
"The older generation iPhone 14 and 13 series will also gain traction in the festive season," he added. Apple's latest iPhone 16 is being produced and launched globally from the Indian factories. Driven by the production-linked incentive (PLI) scheme, the tech giant reached around $5 billion in iPhone exports from India in the April-August period this fiscal (FY25). Compared to the same period of the first five months in FY24, the volume has increased by over 50 per cent, according to industry data, thereby making the iPhone 16 Pro series better positioned through more strategic and accessible pricing from its previous generation.
This will drive upgrades in the Indian market; hence, it will become more appealing to a broader range of consumers. GLOBALLY, first weekend pre-orders of iPhone 16 series are expected to be around 37 million units, says industry analyst Ming Chi Kuo. Meanwhile, Apple revenues in India are likely to grow 18 per cent year-on-year in 2024. And the new iPhone 16 series will further enable the company to come at par with the country along with giving an added boost to its export figures. India accounts for 6 per cent in terms of volume and 16 per cent in terms of value for Apple.
The double-digit growth will continue and revenues are expected to cross the $10 billion mark in the country in 2025. The production of iPhone in India has increased from less than 1 per cent in 2017 to 10 per cent last year, according to the estimates, and plans are in the pipeline to scale it up to 25 per cent of global shipments by 2025, said a global investment firm Jefferies.
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