Apple has made significant strides in the Indian market in 2024. According to preliminary market insights from CyberMedia Research, Apple has witnessed double-digit growth in India. This growth is reflected in a 23% year-on-year increase in iPhone shipments and a 44% year-on-year growth in iPad shipments.
The surge in Apple's sales can be attributed to several factors. One of the key drivers is the trend of smartphone premiumization. As consumers seek high-end devices, Apple's products have found a ready market. Additionally, Apple's strategic focus on expanding domestic manufacturing has also played a crucial role in this growth story.
India's burgeoning middle class, with its growing aspirations and increasing purchasing power, has been instrumental in driving Apple's growth. This demographic is increasingly opting for premium devices, not just as a lifestyle statement but also for their advanced technological features.
Apple's iPhone success in India
A closer look at the data reveals that the iPhone 16 series accounted for 21% of Apple's total iPhone sales in India in 2024. However, the older generation iPhones, particularly the iPhone 15 series (47%) and the iPhone 14 series (25%), also played a significant role in driving the company's strong growth in the country.
This trend is reminiscent of Apple's performance in China in the early 2010s. Back then, Apple had capitalized on the growing middle class in China, who were increasingly adopting premium smartphones. The company had strategically focused on expanding its retail presence and marketing efforts in the country, leading to a significant increase in its market share.
The iPad story
On the iPad front, the Apple iPad 10 (Series) emerged as the market leader with a 55% market share. The Apple iPad Air 2024 (Series) followed with a 17% market share. The growth in iPad sales was driven by rising consumer demand for premium devices that can be used for work, learning, and creative pursuits.
However, the last quarter of 2024 presented a mixed bag of trends. While iPhone sales grew by 31% quarter-on-quarter, iPad sales witnessed a sharp 72% decline. This can be attributed to a slowdown in demand post the festive season.
