The iPhone remains the most popular device in the $365+ price range.
A new Bloomberg publication makes it clear why Apple’s sales figures in India are pegged to the end of March. During this period, the fiscal year ends in the country, and Apple is required to report on the results of its activities in the region by law, which is why data for the previous period appears in the press.
Image Source: Bloomberg
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Apple’s total revenue in India for 12 months from March 2022 to March of the current one and a half times increased to $6 billion. Formally, this is only 2% of Apple’s total revenue, but the local market is interesting for the company because the middle class has begun to increase in the country, capable of afford to buy this brand. Approximately 700 million people in India use smartphones, and Apple can claim only 4% of this market, but in the sub-$365 segment, the iPhone was the market leader in India last year. Apple CEO Tim Cook is scheduled to open the company’s first two flagship stores in India this week. They should also become service centers for local Apple customers, increasing the degree of trust in the brand.
