Despite supply constraints, Apple has doubled its India market share in its fiscal year that ended on September 30, CEO Tim Cook has announced.
Apple has estimated that supply constraints had around a $6 billion revenue dollar impact driven primarily by industry-wide silicon shortages and Covid-related manufacturing disruptions.
“Even so, we set an all-time record for Mac and quarterly records for iPhone, iPad, Wearables, Home and Accessories representing 30 percent year-over-year growth in products,” Cook said during an earnings call with analysts late on Thursday.
“During fiscal 2021, we earned nearly one-third of our revenue from emerging markets and doubled our business in India and Vietnam,” he added.
Riding on the stellar performance of the iPhone 12 alongside the iPhone 11, Apple registered a whopping 150 percent growth (on-quarter) for iPhones in the July-September period (Q3) in India, shipping over 1.53 million units in the country.
iPads also logged a huge jump in growth, at 109 percent (on-quarter), and nearly 0.24 million units were shipped in the same period in the country, as per insights from market research firm CyberMedia Research (CMR).
On the year-on-year (YoY) front, iPhones registered a 28 percent growth while iPads grew by 47 percent, indicating a growth in demand for large-screen devices meant for learning, work, and entertainment amid the pandemic.
According to Counterpoint Research, strong demand for iPhone 12 and iPhone 11 helped Apple lead the premium smartphone market in India with a 44 percent share in the July-September quarter (Q3).
Apple was the highest growing brand in Q3 with 212 percent (on-year) growth and led the premium smartphone market (Rs 30,000 and above) with an impressive 44 percent share.
“Apple had the strongest lineup in India in the past year that contributed to the growth. Apart from this, the pandemic-induced trends worked in favor of iPad, Mac, Airpod, and services growth as well in India,” Counterpoint Research Director Tarun Pathak told IANS.
“The strong product demand along with a dedicated channel strategy helped Apple to grow in India. Apple had a very successful quarter in terms of iPhones with shipments crossing a record 2 million units for the first time in a single quarter. iPhone 11 and 12 contributed almost 62 percent of that,” he added.
The festive season’s full impact will be reflected in the next quarter and experts believe that iPhone 12 is likely to lead within the portfolio.
The iPhone maker also maintained its leading position in the ultra-premium segment (Rs 45,000 and above) with a 74 per cent market share in India.