Apple is now a formidable competitor in India
Not a quarter goes by without top executives highlighting growth in the country, with the latest quarter delivering surprisingly good results.
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Editor's note: Apple is on a high in India. In the quarter gone by, the iPhone maker set new revenue records in the world’s second-largest smartphone market and its management had a lot to say. Chief executive Tim Cook, in the company’s earnings call, said that Apple witnessed “very strong double-digit growth” in India in the quarter ended September 2022. Chief financial officer Luca Maestri added that India set “a new all-time revenue record” in terms of iPhone sales during the quarter. While neither Cook nor Maestri disclosed any specific numbers, according to data from Counterpoint Research, Apple’s share of smartphone shipments in India touched a new high of 5% in the September quarter; given the pricing of its devices, Apple a couple of years ago used to hover around 2%. More importantly, the iPhone 13 was the most sold smartphone in the country that quarter—a previously unimaginable scenario. Apple’s smartphone market share has been growing steadily in India for a while. The company is one of the leading players in the premium segment (phones above Rs 30,000) and remains No. 1 …
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