Can't spell iPhone without India: Country set to become tech giant's third-biggest market by 2026
Apple's third-biggest market -after the US and China-by 2026, with volumes sold locally surging by up to a fifth next year to as many as 15 million units, as the iPhone maker pivots toward other emerging economies to offset the impact of an alarming Chinese market-share shrinkage triggered by Huawei's revival.
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India is currently the fifth-largest market for the US tech giant, while Japan is its third-largest country and the UK the fourth.
India's climb up the revenue and sales leaderboards for Apple, experts believe, is being driven by increasing availability of financing options, steep discounts during festivals, and an evident consumer shift in favour of premium products that usually accompanies higher disposable incomes. Meanwhile, Apple lost nearly 10 percentage points by way of market share in China in the 9 months to September.
As of the third quarter of 2024, Apple had already shipped 8.5 million units to India, research firm Canalys said, surpassing the volumes for the entire 2023.
Apple to be among India's Top 5 Brands
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