Publication Date: December 15, 2023, at 1:55 AM
Unprecedented Growth Opportunity in the Indian Market
The Indian market presents an unprecedented growth opportunity for Apple, as half of India’s 1.4 billion population does not own smartphones, and Apple is now establishing a real and direct presence in the retail market in India.
Apple’s Expansion in the Indian Market
Apple has been trying to expand its presence in the Indian market for many years, but India’s strict laws regarding local sourcing for foreign businesses have prevented Apple and other companies like IKEA from selling directly to consumers. The Apple.com site was unavailable in India until September 2020. Instead, Apple relied on third-party sales outlets and websites, in addition to a network of small retailers to provide its devices to Indian consumers.
Apple’s Favorable Timing
Apple’s timing has been favorable in many other aspects as well. Its broader entry into the market coincided with the rise of the middle class in India and the growing affiliation of Indian consumers with Apple, a clear shift in a country where 90% of smartphones run on Android.
Expanding Apple’s Ecosystem in India
Apple sees India as an opportunity not only to sell iPhones and AirPods but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years, its manufacturing partners like Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Diversification Away from China
Apple’s efforts to bolster its operations in India help mitigate risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research. China’s strict lockdowns due to the COVID-19 pandemic disrupted Apple’s supply chain, underscoring the downsides of over-reliance on a single source for supply. Additionally, rising tensions between the U.S. and China are increasing trade uncertainty. In September, media reports indicated that Beijing plans to expand the ban on Apple smartphones in government agencies and state-supported enterprises, causing Apple’s stock value to decline by $200 billion. “They didn’t want to put all their eggs in one basket,” according to Taron Pathak, a senior analyst at Counterpoint Research.
Expanding Apple’s Ecosystem in India
Apple sees India as an opportunity not only to sell iPhones and AirPods but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years, its manufacturing partners like Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Capitalizing on the Mature Smartphone Market in India
Apple received another opportunity in recent years as the middle class in India, with an annual household income ranging from $6,000 to $37,000, doubled between 2005 and 2021, now representing a third of India’s population. Furthermore, the smartphone market has matured to the point that consumers in emerging markets like India are upgrading their devices from entry-level models, a trend that Apple, as an ambitious premium brand, will benefit from.
Diversification Away from China
Apple’s efforts to bolster its operations in India help mitigate risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research.
Apple is ramping up its activities in India to counter the risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research. China’s strict lockdowns due to the COVID-19 pandemic disrupted Apple’s supply chain, highlighting the downsides of over-reliance on a single source of supply. Additionally, escalating tensions between the U.S. and China increase trade uncertainty. In September, media reports indicated that Beijing intends to expand the ban on Apple smartphones in government-affiliated agencies and companies, leading to a $200 billion drop in Apple’s stock value. (Beijing denied there was a new ban but referred to unverified claims of security flaws in the iPhone.) “They didn’t want to put all their eggs in one basket,” according to Tarun Pathak, Senior Analyst at Counterpoint Research.
Expanding Apple’s Ecosystem in India
Apple views India as an opportunity not only to sell iPhones and AirPods but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years its partner manufacturers such as Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Capitalizing on India’s Mature Smartphone Market
Apple has received another opportunity in recent years, as India’s middle class doubled with annual household incomes between $6,000 and $37,000 from 2005 to 2021, now representing a third of India’s population. Additionally, the smartphone market has matured to the extent that consumers in emerging markets like India are upgrading their devices from entry-level models, a trend that will benefit Apple as an ambitious premium brand.
Diversifying Production Away from China
Apple is helping to ramp up its activities in India to counter the risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research. China’s strict lockdowns due to the COVID-19 pandemic disrupted Apple’s supply chain, highlighting the downsides of over-reliance on a single source of supply. Additionally, escalating tensions between the U.S. and China increase trade uncertainty. In September, media reports indicated that Beijing intends to expand the ban on Apple smartphones in government-affiliated agencies and companies, leading to a $200 billion drop in Apple’s stock value. (Beijing denied there was a new ban but referred to unverified claims of security flaws in the iPhone.) “They didn’t want to put all their eggs in one basket,” according to Tarun Pathak, Senior Analyst at Counterpoint Research.
Expanding Apple’s Ecosystem in India
Apple views India as an opportunity not only to sell iPhones and AirPods but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years its partner manufacturers such as Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Capitalizing on India’s Mature Smartphone Market
Apple has received another opportunity in recent years, as India’s middle class doubled with annual household incomes between $6,000 and $37,000 from 2005 to 2021, now representing a third of India’s population. Additionally, the smartphone market has matured to the extent that consumers in emerging markets like India are upgrading their devices from entry-level models, a trend that will benefit Apple as an ambitious premium brand.
Diversifying
Production Away from China
Apple is helping to boost its operations in India to counter the risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research. The strict lockdowns in China due to the COVID-19 pandemic disrupted Apple’s supply chain, highlighting the drawbacks of over-reliance on a single source for supplies. Additionally, rising tensions between the United States and China increase trade uncertainty. In September, media reports indicated that Beijing intends to expand a ban on Apple smartphones in government agencies and state-owned companies, resulting in a $200 billion drop in Apple’s stock value. (Beijing denied the existence of a new ban but alluded to unconfirmed claims of security flaws in the iPhone.) “They didn’t want to put all their eggs in one basket,” said Taron Pathak, a senior analyst at Counterpoint Research.
Expanding Apple’s Ecosystem in India
Apple sees India as an opportunity not just to sell iPhones and AirPods, but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years its manufacturing partners like Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Capitalizing on India’s Mature Smartphone Market
Apple has received another opportunity in recent years as the middle class in India, with an annual household income between $6,000 and $37,000, doubled from 2005 to 2021, now representing one-third of India’s population. Moreover, the smartphone market has matured to the extent that consumers in emerging countries like India are upgrading their devices from entry-level models, a trend that Apple, as an ambitious premium brand, stands to benefit from.
Diversifying Production Away from China
Apple is helping to boost its operations in India to counter the risks posed by China, where its factories produce nearly 90% of all iPhones, according to Counterpoint Research. The strict lockdowns in China due to the COVID-19 pandemic disrupted Apple’s supply chain, highlighting the drawbacks of over-reliance on a single source for supplies. Additionally, rising tensions between the United States and China increase trade uncertainty. In September, media reports indicated that Beijing intends to expand a ban on Apple smartphones in government agencies and state-owned companies, resulting in a $200 billion drop in Apple’s stock value. (Beijing denied the existence of a new ban but alluded to unconfirmed claims of security flaws in the iPhone.) “They didn’t want to put all their eggs in one basket,” said Taron Pathak, a senior analyst at Counterpoint Research.
Expanding Apple’s Ecosystem in India
Apple sees India as an opportunity not just to sell iPhones and AirPods, but also to manufacture its products. The company began manufacturing iPhones in India in 2017, and in recent years its manufacturing partners like Foxconn, Wistron, Pegatron, and Tata Group have expanded their presence in the country. Currently, India produces 7% of iPhones for Apple, and this share is expected to reach 18% by 2025. For the first time, the iPhone 15 was manufactured in India at the time of its launch in September.
Capitalizing on India’s Mature Smartphone Market
Apple has received another opportunity in recent years as the middle class in India, with an annual household income between $6,000 and $37,000, doubled from 2005 to 2021, now representing one-third of India’s population. Moreover, the smartphone market has matured to the extent that consumers in emerging countries like India are upgrading their devices from entry-level models, a trend that Apple, as an ambitious premium brand, stands to benefit from.
Diversifying
Production Away from China
Apple is helping to boost its activity in India
Source: https://www.aol.com/apple-finally-cracked-india-market-175500508.html
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