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Apple has achieved a significant milestone in India, with iPhone shipments surpassing $10.7 billion.
This figure exceeds the combined sales of FMCG giants Hindustan Unilever and Nestle for FY24, as well as the government’s budget allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the current financial year, according to a report.
Apple has not only retained its lead over Samsung in smartphone sales in India for the second consecutive year but also further extended its lead, the report said citing data from market researcher IDC India.
In the first three quarters of 2024, Apple’s smartphone shipments by value surged by 24 per cent year-on-year, while the overall Indian smartphone market experienced a broader slowdown.
Between January and September 2024, Apple’s shipments amounted to $7.96 billion, leaving Samsung behind at $5.23 billion.
This has resulted in Apple capturing a record 27 per cent share of the value market, compared to Samsung’s 17.7 per cent. In comparison, Apple's market share in 2023 stood at 23.5 per cent, while Samsung’s was 22.5 per cent.
According to Navkendar Singh, AVP of devices research at IDC, the wide disparity in value share between the two brands is driven by the different price segments they cater to.
While over 75 per cent of Samsung’s shipments fall within the sub-$400 price range, more than 85 per cent of Apple’s shipments are within the $700-plus category, the report said.
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