With Apple's new stores in Mumbai and Delhi humming, iPhone sales soared in Q2 2023
It's being reported this morning that India's smartphone market shipped 64 million units in 1H23 with a decline of 10% YoY (year-over-year). The share of the sub-US$200 segment declined to 65% from 70% a year ago, a dip of 11% YoY. The mid-range segment (US$200<US$400) remained flat with a 22% share, while the mid-to-high-end segment (US$400<US600) with a 5% share, grew by 34% YoY in 2Q23. The premium segment (US$600+) grew the highest, up 75% YoY reaching 9% share. Considering the premium segment is Apple's key strength, Apple's year-over-year improvement was registered at a whopping +61% as presented in the IDC chart below.
Upasana Joshi, Research Manager, Client Devices, IDC India: "Consumers are opting for premium offerings, driven by easy and affordable financing options. IDC expects this growth momentum to continue in the upcoming months in 2023."
The surge in sales was likely due to Apple's new stores in Delhi and Mumbai in April.
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