India is on track to become Apple’s third-largest market by 2026, following the US and China, with local sales expected to surge by up to 20% next year, potentially reaching 15 million units.
India is Apple’s 5th Largest Market
This growth comes as Apple shifts its focus to emerging markets like India to offset its shrinking market share in China, which has been impacted by Huawei’s resurgence.
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Currently, India ranks as Apple’s fifth-largest market, with Japan and the UK in the third and fourth spots, respectively. Experts suggest that India’s growing middle class, increasing availability of financing options, and a shift towards premium products are key drivers behind Apple’s sales growth. With rising disposable incomes, Indian consumers are increasingly opting for higher-end devices, which benefits Apple’s exclusive focus on the premium segment.
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Apple has a Bright Future in India
The company’s performance in India is expected to accelerate further, with financing options playing a significant role in making premium smartphones more accessible. During festivals, Apple also benefits from steep discounts, which fuel the demand for its devices. According to Counterpoint Research, Apple is forecasted to ship 8.5 million units in the third quarter of 2024 and is expected to add another 4 million units in the December quarter, driven by strong demand for its latest iPhone models.
“India is likely to become the third-largest market for Apple in terms of shipments by 2026,” said Counterpoint’s Research Market Outlook, highlighting how the availability of financing is helping make premium Apple gadgets more affordable for an increasingly consumption-driven population.
