Company betting on India to repeat China-like success, Apple's sales in developed markets are slowing down

Apple is betting big by opening exclusive stores in big Indian cities like Mumbai and Delhi. According to experts, this is a sign of Apple CEO Tim Cook's focus shifting to the Indian market. At a time when Apple's sales in developed markets are slowing, the company is looking to replicate its China-like success in India.
Neil Shah, Vice President, of Counterpoint Research, said that the Indian smartphone market is rapidly shifting toward the premium segment. The share of phones costing more than Rs 30,000 in handsets sold in the country is about 10 percent. Before Kovid it was four percent.
The share of premium handsets in the total income of smartphone companies has increased to 35 percent. That is why Apple is increasing its penetration in the Indian market. Anyway, in 2022, Apple had the highest market share of 60 percent in premium phones. Samsung's share in this market was 21%.
According to Counterpoint's Shah, Apple is always mindful of timing. The company estimates the right time to focus on any market. Now it is feeling that this is the right time to take advantage of the possibilities in the Indian market.
According to Counterpoint data, Apple's share of India's smartphone market will increase to about 6% in the year 2022, which was 2% in 2020. There are a lot of possibilities here now.
Upasana Joshi, Research Manager (Client Devices), IDC India, said, “During 2022, the average selling price (ASP) of smartphones in India increased by 46% to exceed a record Rs 18,000. But during this period the market share of entry-level (less than 12 thousand prices) smartphones decreased to 46%, which was 54% in 2021.