Blitz Bureau
NEW DELHI: 2024 has certainly become the year of Apple in India where the tech giant made new exports as well as domestic sale records, driven by the rising trend of premiuisation, the Government’s production-linked incentive (PLI) scheme and aggressive retail expansion. According to industry experts, Apple’s strategic approach in India over the past year has resulted in significant achievements and increased market importance.
Within the electronics sector, smartphone exports have recorded a 45 per cent increase in exports as leading players such as Apple expand production in the country. Apple’s entry into India, supported by its vendors Foxconn, Pegatron, and Tata Electronics, has boosted smartphone exports this year.
Apple’s iPhone production reached $10 billion in the seven months of this fiscal (FY25), with $7 billion in exports alone which is a record. In the April-October period, the company exported iPhones at almost Rs 8,450 crore (nearly $1 billion) each month, as per industry data.
According to Tarun Pathak, Research Director, Mobile Devices and Ecosystems at Counterpoint Research, Apple has gained a share in India due to highly aspirational youth appeal, strong consumer connect, chanel and manufacturing expansion along with solid marketing campaigns.
“Apple has successfully tapped into the rising trend of premiumization in the world’s second-largest smartphone market. The ultra- premiumisation trend is steadily gaining momentum with each passing quarter,” Pathak told IANS.
India’s strategic significance for Apple is underscored by its three-dimensional (3D) strategy — focusing on domestic manufacturing, distribution and driving premiumisation.
The country is likely to surpass Japan and UK to become the third largest market for Apple in terms of shipments in 2026, according to Counterpoint Research Market Outlook.
“Premiumisation in India, with readily available financing, boosts affordability for premium smartphones, benefiting Apple’s exclusive focus on this segment,” Pathak noted.
