Apple Inc.
Having the strongest quarter for iPhone sales in India, a sign of Cepertino, California-based company finally made progress on the fastest growing smartphone market in the world.
Sales increased to 2.3 million units in the fourth quarter, up 34 percent from the previous year, according to numbers from the competition of market research companies.
China Xiaomi Corp and Samsung Electronics South Co sell 9.3 million and 7.2 million smartphones each, which leads in terms of the unit.
But Apple has attracted more income than its rival, because of the iPhone high price label, according to counter-calculation.
US companies took around $ 2.09 billion for the quarter, putting aside Samsung with revenues of around $ 2 billion.
“This is a turning point for Apple in India,” said Neil Shah, Mumbai-based partners and research heads on matching market research technology.
“Indians are willing to bring up money on premium phones during a pandemic because the lives of everyone revolve around their devices and no more spent.” While Apple has become the most valuable company in the world with the popularity of its iPhone, it has struggled in the 1.3 billion Indian market.
The expensive iPhone far exceeds the reach of many local consumers, a situation that is exacerbated by Apple’s rigid import tariffs must pay on devices made abroad.
In 2018, the company found several top executive departures in this country, sales of sliding and retail partners who did not protest their online discount practices.
Apple sells 1.8 million iPhones for a full year, less than those sold in the latest quarters.
Since then, the technology giant has made a strategy.
It opens the Indian online store itself, efficient discounts and start making local iPhone.
Plan to open a retail outlet owned by a company in several cities in the upcoming quarter.
During the period October to December recently, the Indian Festival and Gifting Festival Season, telephone makers gave the price of the iphone 12 model base with a price of less than 50,000 rupees ($ 668), offering cashback incentives and easy payment plans.
Apple is still a difficult selling in the country where per capita income is under $ 2,000 in 2020, according to World Bank data.
For the latest quarter, the average selling price in the country is $ 908, while Samsung is $ 278 and Xiaomi is $ 172, according to the match.
While Apple’s market share has risen, it remains in one digit in more than 5 percent for the quarter.
Indians bought 44 million smartphones in that period.
It has challenges outside the price on the market.
Apple manufacturing partners, Foxconn and Wistron Corp.
technology groups have faced Blowback in India because of their treatment of workers.
US companies take unusual steps to place the Foxconn factory near the southern city of Chennai about the probation period after protests about food security and standard of accommodation.
In addition, the country’s antitrust regulator, Indian competition commission, has begun investigated into the cost of the App Store.