Apple records highest-ever iPhone shipments in India in Q3 2023: 34% YoY Growth

Apple recently recorded its highest-ever quarter in India in terms of iPhone shipments. According to a report by Counterpoint Research, Apple shipped over 2.5 million iPhones in Q3 2023.

The report suggests a 34% growth as compared to Q3 2022. The Apple iPhone 15 series was unveiled back in September, introducing four new devices to the fray - iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.

Apple's Highest-Ever Quarter

Additionally, apart from the new iPhone 15 models, the iPhone 14 series and vanilla iPhone 13 model also got big discounts during India's recent festive sales that took place in September.

But despite Apple's consistent year-on-year growth, the Cupertino-based tech giant continues to possess single-digit market share in India. Samsung, on the other hand, continued to dominate the Indian market with a share of 17.2%.

However, this shouldn't come as a surprise as Apple only operates in the premium and ultra-premium segments, in a country where budget and mid-range phones dominate the market. On the flip side, the report also notes that India's ultra-premium segment is on the rise.

Smartphone Landscape in India

While Samsung did take the top spot, its market share dropped to 17.2% from 19.5% in the same year last quarter. Xiaomi also saw a drop in market share, going from 20.6% in Q3 2022 to 16.6% in Q3 2023, but retained the third spot.

Vivo and Realme came in at third and fourth place with both smartphone makers seeing minor growth in Q3 2023. Vivo market share grew from 14.4% to 15.9%, while Realme grew from 13.6% to 14.4% in Q3 2023.

Oppo saw a slight dip in overall sales, going from 10.4% market share in Q3 2022 to 9.8% in Q3 2023. The other brands also saw a growth of 26.1% in Q3 2023 as opposed to 21.5% in the same quarter last year.

Research Analyst Shubham Singh said, "OnePlus was the top brand in the affordable premium segment (INR 30,000-INR 45,000, ~$360-$540) with a 29% share driven by strong sales of the OnePlus 11R."

Key Insights from the Report

According to the report, "In Q3 2023, the share of 5G smartphone shipments reached 53%. The main growth driver was OEMs pushing multiple launches in the INR 10,000-INR 15,000 (~$120-$180) segment. The 5G penetration reached 35% in this segment, compared to 7% in Q3 2022."

Additionally, the report also recorded an increase in the demand for foldable smartphones. The other notable brands that grew in Q3 2023 were Nokia (31%), Motorola (27%), Realme (7%), and Google (6%). And lastly, the share of 4G feature phones in the overall feature phone shipments increased to 32% in Q3 2023.

Source