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Apple doubled business in India, helped by strong sales of iPhone in Q4 2021

More Indians are buying iPhones than ever before, helping Apple increase its footprint in the world’s second-most populous country.

By: Tech Desk | New Delhi |
Updated: October 29, 2021 9:49:51 am
Apple, Apple Q4 results, Apple results, Apple fourth quarter results, Apple Q4 results, Apple India market, Apple supply chain issuesApple saw business double in India in the fourth quarter. (Image credit: Anuj Bhatia/Indian Express)

More Indians are buying iPhones than ever before, helping Apple increase its footprint in the world’s second-most populous country. In fact, Apple has doubled its business in India in fiscal 2021, which shows how important emerging markets have become for the Cupertino giant in the long run.

“We set quarterly records in every geographic segment with strong double-digit growth across the board” and that during fiscal 2021, we earned nearly one-third of our revenue from emerging markets” and “doubled our business in India and Vietnam,” Apple CEO Tim Cook said in a call with analysts as the company reported results for the fourth quarter of its fiscal 2021.

Although Apple did not give individual breakout country-wise, it is clear that sales grew during the last quarter. According to research agency Counterpoint, Apple was the highest growing brand in Q3 2021 with 212 per cent YoY growth and led the premium smartphone market (Rs 30,000 and up) with a 44 per cent share. Strong sales of the iPhone 12 and iPhone 11 were the big factors why Apple performed so well in India in the last quarter. “Apple became the top 5G smartphone brand in the premium segment for the first time,” Counterpoint said.

India is becoming increasingly important for Apple in the past few years. Apple is positioned as an aspirational brand and not just another smartphone maker. The differentiation in approach coupled with the company’s strategy to be exclusive is helping Apple gain not just market share but also user’s trust in the world’s second-largest smartphone market. Apple tends to price phones higher in India but cashback offers and EMI schemes substantially make iPhones more appealing to end consumers.

On Thursday, Apple reported a September quarter revenue record of $83.4 billion, up 29 per cent year over year. However, Apple’s revenue fell short of Wall Street expectations in its fiscal fourth quarter as Cook attributed to supply constraints on iPhones, iPads, and Macs. In fact, the company revealed it experienced $6 billion in supply constraints during the quarter. iPhone sales were up 47 per cent year-over-year, while Apple’s services grew 26 per cent annually.

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