Apple Expands India Presence with Four New Flagship Stores Following Record Sales
Apple has announced plans to launch four additional flagship stores in India over the coming months. This expansion follows a record-breaking quarter for Apple in the Indian market, fueled by strong demand for iPhones, as highlighted by CEO Tim Cook during the latest earnings call for the September 2024 quarter.
In his statement, Cook noted that iPhone sales have grown across every region, hitting new all-time records globally. India stood out as a key market, delivering Apple its highest-ever revenue in the country. “We’re thrilled with the enthusiasm in India,” said Cook, underscoring the company’s commitment to further expansion after opening two initial stores in the country earlier this year.
iPad Sales Reach New Highs in India
Beyond iPhones, Apple also reported a surge in iPad sales in India, reaching unprecedented levels. According to CFO Luca Maestri, over 50% of iPad buyers in India this quarter were first-time customers. Maestri further highlighted double-digit growth across other emerging markets like Mexico and the Middle East.
Apple Secures Second Place in India’s Smartphone Market by Revenue
Apple now holds a 22% market share in India’s smartphone sector by revenue, trailing only behind Samsung, per data from Counterpoint Research. The recent launches of the iPhone 15 and iPhone 16—timed perfectly for the festive season—have helped Apple strengthen its position in India. Samsung leads slightly with a 23% share, thanks to its popular Galaxy S series and mid-range options like the A-series, M-series, and F-series.
In total, Apple reported $94.9 billion in revenue for the September 2024 quarter, marking a 6% year-over-year increase. iPhone revenue alone rose by 6% worldwide. Looking ahead, Apple anticipates continued growth, bolstered by the gradual integration of new AI features across its product lineup.
Premiumization Driving the Indian Smartphone Market
India’s smartphone market is increasingly shifting towards premium models, spurred by EMI options and trade-in programs that make high-end devices more accessible. This trend toward premiumization is reshaping the landscape, offering a promising future for Apple and other high-value brands in India.
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