In a word to shoppers Morgan Stanley funding financial institution analyst report — as famous by TechCrunch — that Apple’s income in India jumped 42% year-on-year in 2023 to US$8.7 billion.
iPhone shipments in India grew 39% year-on-year in 2023 to 9.2 million items, making it iPhone’s fifth largest smartphone market. India’s iPhone enterprise is now bigger than any standalone nation within the European Union, Morgan Stanley added.
“Which means that in CY23 [calendar year 2023], India represented 4% of iPhones shipments and income, up from 3% in CY22 and 1% 5 years in the past. This compares to China iPhone shipments, which represented 20% of iPhone shipments and income in CY23 (down 1-2 factors year-over-year. respectively),” the analysts wrote. ““Finally, because of this India as a standalone market remains to be not sufficiently big to offset the declines we’re seeing within the Chinese language market right this moment, but when India continues to develop on the identical trajectory whereas China iPhone shipments keep flat, India can be an even bigger iPhone market than China by 2027.”
In a word to shoppers Morgan Stanley funding financial institution analyst report — as famous by TechCrunch — that Apple’s income in India jumped 42% year-on-year in 2023 to US$8.7 billion.
iPhone shipments in India grew 39% year-on-year in 2023 to 9.2 million items, making it iPhone’s fifth largest smartphone market. India’s iPhone enterprise is now bigger than any standalone nation within the European Union, Morgan Stanley added.
“Which means that in CY23 [calendar year 2023], India represented 4% of iPhones shipments and income, up from 3% in CY22 and 1% 5 years in the past. This compares to China iPhone shipments, which represented 20% of iPhone shipments and income in CY23 (down 1-2 factors year-over-year. respectively),” the analysts wrote. ““Finally, because of this India as a standalone market remains to be not sufficiently big to offset the declines we’re seeing within the Chinese language market right this moment, but when India continues to develop on the identical trajectory whereas China iPhone shipments keep flat, India can be an even bigger iPhone market than China by 2027.”
In February the IDC analysis group reported that the iPhone now has 68% of India’s “super-premium” smartphone market. The nation’s smartphone market shipped 146 million smartphones in 2023, with a nominal 1% progress YoY (year-over-year).
The nation’s super-premium section (US$800+) registered the very best progress of 86%, with its share up from 4% to 7%. The iPhone14/13/14 Plus collectively accounted for 54% of shipments, adopted by the Galaxy S23+/S23/S22+/S23 Extremely with 22% share. Total, Apple led the section with a share of 68%, adopted by Samsung at 30%.
IDC says Apple had a stellar 12 months, ending at 9 million items, regardless of having the very best ASP [average selling price] of US$940. This was led by earlier technology iPhone fashions and its push for native manufacturing. Its iPhone 13/14 had been among the many Prime 5 shipped fashions yearly.
