Apple the American tech giant has achieved a significant market share of 10% in India. The company that is based out of Cupertino (California) has entered the list of top five smartphone brands by volume. Apple has finally achieved this significant market share during the October-December period in 2024. This data has been provided by Counterpoint estimates.

Apple’s market share increased by 8.6% in the July-September quarter of 2024. According to the IDC, the company’s shipments have grown 58.5% year-on-year during that period. The company for the full year of 2024 has shipped around 12 million iPhones in India. This increase marks a 35% year-on-year growth.

Apple Growth Causes

The primary reason for Apple reaching this milestone indicates the growing popularity of company in India. Along with this, it is driven by a mixture of premiumization trends and no-cost financing schemes. Additionally, the company offering strong discounts on previously launched iPhone models translated into double-digit growth. Apple’s shipments of previously launched iPhones have grown last year.

Another reason for rising Apple exports is the government’s production-linked incentive (PLI) scheme. Apple reached Rs 1 lakh crore in iPhone exports from India in the calendar year 2024. Additionally, according to early industry projections, Apple exported more than $12 billion worth iPhones. These growth figures are more than 40 per cent or 40 per cent growth from 2023.

The company’s flagship retail stores in Delhi and Mumbai have also contributed significantly to its growing footprint. Apple’s growth is a reason of this too among others. Apple is also launching four more retail stores in the country. “We can’t wait to bring four new stores to customers in India,” Apple CEO Tim Cook had said recently.

Counterpoint Stance

“Apple, with its aspirational image and rising footprint, has become an obvious choice for young consumers in India, especially beyond tier-II cities. For Indians, the iPhone is more than a smartphone—it’s a lifestyle statement,” said Tarun Pathak, research director at Counterpoint India

“As we analyze Apple’s strategic approach, we observe the implementation of a comprehensive three-dimensional (3D) strategy, centered around key pillars of domestic manufacturing, distribution, and driving premiumization. This multi-faceted approach reflects Apple’s commitment to staying ahead in the market and catering to the evolving needs of consumers,” Pathak added.

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