Apple looks at Indian smartphone market with new glasses | Daily News

Apple looks at Indian smartphone market with new glasses

The number of smartphone users in India is expected to reach 859 mn by 2022, growing at a CAGR of 12.9%, according to an ASSOCHAM-PwC joint study.

Tim Cook has an interesting connection with India. A big believer in the Indian middle class, Cook last visited the country officially in May 2016 and since then, we hear him praising the country from his Cupertino-headquarters in California, often during analysts’ call at the end of the company’s quarter results.

According to industry analysts, Cook is aware of the immense potential in the country -- which has over 450 million smartphone users -- and would fully utilise the aspirational value of the brand as saturation has set in, in the rest of the smartphone economies including China.

The number of smartphone users in India is expected to reach 859 million by 2022, growing at a compound annual growth rate (CAGR) of 12.9 per cent, according to an ASSOCHAM-PwC joint study. Internet consumption is rising in the country owing to cheap data plans and for Apple, nothing can be as lucrative a market than India today.

The smartphone usage in India is increasing despite the global smartphone shipments again falling 1.2 per cent in the second quarter (Q2) this year - marking the seventh consecutive quarter of decline, according to Counterpoint Research.

“India bounced back. During the quarter, we returned to growth there. We are very happy with that,” said the Apple CEO.

Promotional offers and aggressive marketing has helped Apple to drive revenues in India.

“Apple’s market share in India has grown in recent years. It is a premium range player and is performing well in that segment in the country,” says Anshul Gupta, Research Director at Gartner.

According to Gupta, like any other major player, the iPhone maker is bullish on the country and plans to expand its operations. (The Economic Times)


 

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