Apple captured a record 75.6% chunk of the premium smartphone market in India, a report by International Data Corporation (IDC) claims.
That market segment covers handsets $500 and above. That’s undoubtedly impressive, although it’s still a fraction of the overall market in a country where the average phone price is $159 and the average annual income is $1,892.
Navkendar Singh, research director at IDC India, said that Apple experienced growth in India in the second half of the year, after a relatively slow first six month of 2019.
“It happened on the back of price drops on previous generation iPhone models,” Singh said. Singh was referring to the iPhone XR, iPhone 7, and iPhone 8. “This, along with affordability schemes like cashbacks, EMIs especially on the e-tailer platforms during festive quarter of Diwali, led to this growth.”
The iPhone 11 launched at a lower price than previous generation iPhones. As a result of this, Tim Cook noted during Apple’s most recent earnings call that the company registered double-digit iPhone growth for the holiday quarter.
In addition to the iPhone, Navkendar Singh said that wearables have been a big hit in India. “Apple Watch and Airpods have been well received by the Indian consumers,” Singh noted. “Price reductions on Apple Watch Series 3 and the promotional discounts offered by banks and e-tailer channels on Apple Watch Series 5 made the device a popular purchase among consumers.”
iPhone in India: Ruling the premium market
IDC’s report backs up another recent report about the premium success of the iPhone in India. Counterpoint Research recently noted that Apple was the fastest growing premium smartphone brand in India last year. Premium in that case was any handset over $420. That segment of the market grew by 29% year-over-year.
Apple still has a long way to go before it becomes a major player in India. However, with its first official Apple Store opening there in the near future, it’s definitely headed in the right direction. With a population of around 1.3 billion. it’s no wonder Apple would be keen to grow its presence in India.
Via: Gadgets 360
