iPhone sales in focusĪpple's India push offers the opportunity for the U.S. India has a growing middle class, a young and "mobile first" population willing to pay more for phones, especially in Mumbai and Delhi, two of the country's wealthiest cities and the location of the new Apple stores. "Apple as usual has got the timing right on 'peaking at the right time' with its flagship store strategy to catalyse this trend in its favour," Shah told CNBC via email. He said this category of smartphones accounts for 35% of total smartphone market revenue. Smartphones priced above $400 now account for 10% of the total volumes of handsets shipped versus 4% before the pandemic, according to Shah. Apple has very little market share in India.īut India is undergoing a "premiumification of market," according to Neil Shah, partner at Counterpoint Research. India's smartphone market, however, has been dominated in recent years by Samsung and Chinese brands such as Xiaomi, with low-to-mid-tier priced devices finding support from customers in a price-sensitive market. Cook traveled to India for the opening of the store, nearly seven years after his first visit as Apple CEO. Personal Loans for 670 Credit Score or LowerĬook has long viewed India as a key market to Apple's future and in February he said he was "bullish" on the world's fifth-largest economy and the company is putting a "significant amount of energy" into the market. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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