Tim Cook, the CEO of iPhone manufacturer Apple, claimed on Friday that the company’s revenue in India nearly doubled in the second quarter of 2016. According to analysts, the brand remained relatively impervious to India’s macroeconomic difficulties, capturing 3% by volume and 16% by value market share in the April–June quarter. Tim Cook, the CEO of Apple, noted in his opening remarks the record-breaking revenue for the June quarter in both established and developing markets, with a double-digit increase in Brazil, Indonesia, and Vietnam, as well as a nearly doubling of revenue in India. Apple had strong double-digit growth in the June quarter, driving the additional base, and set a record for switchers. With low iPhone penetration between Indonesia, Vietnam, and India, where the company fared fairly well, Apple continues to execute across some important geographies. The iPhone frequently serves as the market’s motor, especially in the early stages of the market’s development for Apple items. According to CFO Luca Maestri, Apple broke all-time revenue records in a number of nations, including the US, Mexico, Brazil, Korea, and India, as well as in developed and emerging markets. Luca also emphasised how business clients are purchasing Apple goods more frequently as talent acquisition and retention strategy. Apple shipped 1 million iPhones to India in Q2 2022, according to estimates by counterpoint research, garnering a 3% volume and 12% value market share. With new products on the horizon, the iPhone 13 and 12 will all continue to be popular in India. Due to the COVID-19 second wave’s lesser base in Q2 2021, Apple had a 63% YoY growth in Q2 2022. According to Tarun Pathak, research director at Counterpoint Research, Apple continued to be the best-selling brand in the ultra-premium segment. Apple maintained its lead in the ultra-premium class, according to Pathak, thanks to its Make In India capabilities for both domestic and international markets, offline push through several promotions, and customer brand preference in the Rs 45,000 and above bracket. The entry-level premium segment, which is between Rs 30,000 and Rs 45,000, is where Apple has room to develop.
