For the first time, Apple has secured a spot among the top five smartphone brands in India, achieving nearly 10% market share by volume in the October-December quarter of 2024, according to Counterpoint Research. The milestone reflects Apple’s strategic focus on domestic manufacturing, premiumisation, and distribution expansion in one of the world’s fastest-growing smartphone markets.
“This multi-faceted approach reflects Apple’s commitment to staying ahead in the market and catering to the evolving needs of consumers,” said Tarun Pathak, Research Director at Counterpoint Research to IANS. He noted a significant rise in premium smartphone purchases among India’s growing middle class, particularly youth in smaller cities.
Apple’s success is credited to its aspirational image, especially beyond tier-2 cities, where the iPhone has become synonymous with a lifestyle upgrade. “For Indians, the iPhone is more than a smartphone; it’s a lifestyle statement,” Pathak explained.
Apple’s manufacturing efforts in India, bolstered by the government’s Production-Linked Incentive (PLI) scheme, have played a key role in its ascent. In 2024, the company exported Rs 1 lakh crore ($12 billion) worth of iPhones, marking a 40% year-on-year growth.
Domestically, Apple manufactured $14 billion worth of iPhones in fiscal 2024, with $10 billion of those exported. This represents a 46% increase in domestic production compared to the previous year.
The Cupertino-based tech giant has also contributed significantly to India’s employment landscape, creating 175,000 new direct jobs over four years, 72% of which are held by women. Additionally, Apple’s retail expansion, with new stores in Mumbai and Delhi in 2023, has deepened its penetration in the aspirational Indian market.
Experts predict Apple’s growth in India will accelerate in 2025, driven by targeted marketing strategies, aggressive retail network expansion, and further localisation of its supply chain. The premium segment continues to grow, aligning with Apple’s strategy to cater to India’s rising middle class and young consumers.