Apple sees record quarterly growth in India despite falling iPhone sales across the globe

iPhone manufacturer Apple posted a record September quarter where revenue came in at $64.7 billion. This was, to an extent, aided by a strong performance across geographies, which included India. “Geographically, we set September quarter records in the Americas, Europe and rest of Asia Pacific. We also set a September quarter record in India, thanks in part to a very strong reception to this quarter’s launch of our online store in the country,” said Tim Cook, CEO, Apple in an earnings call. In the -July-September quarter, Apple launched its first online store in India, looking to increase its presence in India. This is despite a 20.7% global fall in iPhone sales during the quarter. 

India’s smartphone market is dominated by Android-powered smartphones, making Samsung and OnePlus some of Apple’s biggest competitors. The tech giant has been increasing its footing in India in recent years and has now started assembling the iPhone 11 in the country, partnering with Wistron and Foxconn. Reports suggest that Apple’s cable supplier too will start mass-producing cables in India. According to research firm Canalys, the tech giant’s renewed focus on India paid off with a double-digit growth to nearly 8,00,000 units in the region during the July-September 2020 quarter, news agency PTI reported.

Apple has also led the premium segment in smartphones in India, ahead of OnePlus. A report by Counterpoint noted that Apple’s lead was aided by a strong demand for its iPhone SE 2020 and iPhone 11. Apple has, however, has seen growth also coming from non-iPhone segments. “In spite of the most challenging economic environment we can remember, we set new revenue records in the Americas, in Europe and in the rest of Asia Pacific. We grew our business outside of iPhone by 16%,” said Luca Maestri, Chief Financial Officer, Apple.

India’s smartphone shipments in the premium segment was one of the least affected segments and reached its highest-ever share in the overall India smartphone market, contributing more than 4% in total smartphone shipments, as per Counterpoint. International sales for Apple accounted for 59% of the revenue for the quarter ended September 2020.

“Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive,” Cook said in the statement.