Apple nears $10 bn India revenue
₹49,321 crore, or $5.9 billion, and strong profitability growth in India, as per data from its filing with the Registrar of Companies (RoC). “Apple topped the smartphone revenue chart in India in the first six months, and has also had a very strong two months festive season sales. Due to this, there is strong probability Apple could pip Samsung to the top spot in smartphone revenue in India," said Navkendar Singh, associate vice-president for client devices , International Data Corp.
(IDC) India. According to IDC, the company closed 2022 with shipments of 6.5 million iPhone units to retailers. A consensus of industry analysts suggests that in 2023, Apple is likely to exceed 9 million iPhone shipments with some even estimating 9.5 million units.
However, this is significantly lower than Samsung’s 26.1 million units in 2022, which helped the Korean electronics major lead the revenue charts for smartphone sales in India. According to Counterpoint and IDC analysts, Samsung’s average selling price (ASP) is around $350, while Apple’s ASP for iPhones around $1,000. Retailers were of the same view.
The head of a Kolkata-based multi-brand retail chain, claiming to be a “preferred retail inventory partner" of Apple, said iPhone sales have been “stronger than expected this year". “In the past three years, Apple is increasingly doing better every year. For most years, nearly 80% iPhone sales through festive period is driven by older generation models.
Read more on livemint.com
