Canindia News

Apple grows 41% in India, captures 2% market share in Q4

New Delhi, Jan 24 (IANS) Riding on the strong demand for iPhone XR and iPhone 11, Apple became one of the fastest-growing brands in India in the fourth quarter of 2019, capturing 2 per cent market share with a year-on-year growth of 41 per cent, Counterpoint Research said on Friday.

On an annual level, Apple shipments are set to rebound in India during 2019 with an estimated growth (YoY) of 6 per cent.

“This is compared to a 43 per cent decline it had during 2018, thanks to the price correction of iPhone XR, revamped channel strategy and expansion of local manufacturing in India,” Tarun Pathak, Associate Director, Counterpoint Research, told IANS.

The initial strong demand for the iPhone 11 series was driven by aggressive pricing, promotional and channel strategy.

“The EMI along with cashback offers on iPhone 11 series especially iPhone 11 did well during the important festive launch,” Pathak added.

Additionally, the fastest ever roll-out in India ahead during the festive season led to the strong initial shipments.

In fact, price cut on iPhone XR immediately made it the best selling iPhone within Apple portfolio for two successive quarters (Q2 2019, and Q3 2019).

The Cupertino-based tech giant is fast selling almost all products — iPhones, Apple Watch, Mac desktops and AirPods Pro — apart from a growing Apple TV community in India.

The reason for Apple’s rise lies in a better understanding of a market that requires unique customer strategies and mind games, not seen in other, more evolved smartphone territories.

“Apple still continues to be an aspirational brand in India and the success of the iPhone XR and iPhone 11 indicates that Apple can grow faster in India provided with the right channel and pricing strategy in place,” said Pathak.

iPhone XR is being manufactured at Apple supplier Foxconn’s facility in Sriperumbudur, Chennai and iPhone 7 and 6S being assembled at supplier Wistron’s facility in Bengaluru.

–IANS

na/

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