Introduction
The iPhone 16 series, recently launched by Apple, is poised to significantly bolster the company’s sales in India. As the demand for premium smartphones surges, analysts project that Apple will sell between 12.5 to 13 million iPhones in the Indian market by 2024. This remarkable growth is expected to further entrench Apple’s presence in India’s high-end smartphone segment, appealing to both new buyers and long-time fans of the brand.
Growth Potential in India
According to Prabhu Ram, Industry Head of Intelligence Group at CyberMedia Research (CMR), the iPhone 16 series will accelerate Apple’s growth trajectory in the Indian market. More consumers are leaning towards the latest iPhone models, which have been strategically designed with artificial intelligence functionalities in mind. Currently, smartphones priced above Rs 30,000 represent 17% of the total smartphone market volume in India.
Projected Sales Increase
For the launch quarter, the iPhone 16 series is projected to experience a remarkable 30% year-on-year growth compared to its predecessor, the iPhone 15, reflecting Apple’s robust position in a competitive marketplace. Furthermore, market research firm IDC anticipates that Apple’s smartphone volume share will reach approximately 8% in 2024, underscoring the importance of the Indian market in Apple’s future growth plans.
| iPhone Model | Starting Price (INR) |
|---|---|
| iPhone 16 | 79,900 |
| iPhone 16 Plus | 89,900 |
| iPhone 16 Pro | 1,19,900 |
| iPhone 16 Pro Max | 1,49,900 |
Consumer Trends and GenAI
As consumers increasingly seek out the latest technology, there is a noticeable trend toward GenAI-ready devices. Tarun Pathak, Director of Counterpoint Research, notes that the iPhone 16 might witness a record number of upgrades, particularly from first-time users transitioning to Apple products. The festive season is anticipated to further boost sales of not only the iPhone 16 series but also prior models like the iPhone 14 and iPhone 15.
Competitive Landscape: The Challenge for Samsung
Apple’s strategy appears to be effective in capturing market share within the luxury smartphone segment, where devices retailing for over Rs 50,000 find a growing customer base. Faisal Kawoosa, a tech analyst at TechArc, highlights that this increasing share poses a significant challenge for Samsung and other competitors. Counterpoint Research reports a robust increase in sales for smartphones priced at Rs 1 lakh and above, with growth rates of 20% and 10% in the first and second quarters of 2024, respectively.
Conclusion
With its carefully crafted iPhone 16 series lineup, Apple is not merely maintaining its stake in India’s premium smartphone market but is also poised to expand rapidly in the coming years. By aligning new features with consumer interests, particularly among first-time users and those seeking advanced technologies, Apple aims to set new sales records and solidify its position as a leading player in the highly competitive Indian smartphone landscape.
