Apple seems to be happy with Indian buyers, at least that’s what the latest numbers suggest. Apple has announced that its revenue from India is likely to double in the quarter ending June 2022. Apple said it posted revenue of $83 billion in Q3 2022, up 2 percent year-over-year. It simply means that more Indians are buying iPhones and other Apple products.
Apple sales boom in India
“We set June quarter records in the US, Europe and the rest of the Asia Pacific region. We also saw strong double-digit growth in June quarter revenue records in Brazil, Indonesia and Vietnam in both developed and emerging markets. And revenue in India is on track to double,” Apple’s CEO said. CEO Tim Cook said on the earnings call.
Apple also said that the iPhone is the main product sold in the Asian markets of India, Indonesia and Vietnam. Looking at the Indian market, it is crowded with Android smartphones, especially from Chinese manufacturers like Xiaomi, Oppo, Vivo, OnePlus and so on.
On the other hand, the Apple iPhone has always been considered an expensive smartphone on the expensive price spectrum. When it launched the iPhone SE models, people started getting iPhones as these were more affordable than the serial number.
Apple’s earnings conference revealed a few more details about other Apple products. An example is the Indian company Wipro, which is currently investing in the M1 MacBook Air. Wipro believes the MacBook Air has a competitive advantage when hiring new graduates globally, “thanks to its superior performance and low total cost of ownership”.
Should Chinese brands be worried?
Until now, iPhones are respected and rich devices. Most people didn’t own an iPhone – any model. Things have changed now for many reasons. Better income and the desire to invest in expensive phones is the same. Online retailers like Amazon and Flipkart host huge discount sales that make iPhones affordable.
That said, top Chinese brands like Xiaomi, Redmi, Oppo, Infinix and others remain in demand. No matter how affordable an iPhone gets, the Indian market still has a strong demand for phones in the sub-Rs. 20,000 and sub-Rs. 30,000 units. Despite growing iPhone purchases, Chinese Android phones still dominate the Indian mobile market.
(source)
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Story First Published: Sunday, July 31, 2022, 8:08 am [IST]