Increasing Demand for iPhone 16 Series in India
The recent launch of the iPhone 16 series has sparked significant interest among consumers in India. Analysts project that Apple is on track to sell approximately 13 million iPhones in the Indian market by 2024, signaling a robust growth trajectory for the company within the premium smartphone segment. As Prabhu Ram, Industry Head of CyberMedia Researchโs Intelligence Group, notes, “The new iPhone 16 series will further accelerate Apple’s growth in India, with more buyers inclined towards the latest model.”
AI-Driven Innovation
The iPhone 16 stands out as Apple’s first smartphone designed with artificial intelligence (AI) integration at its core. This positions the device favorably in a market where smartphones priced above Rs 30,000 constitute about 17% of total smartphone sales. With the introduction of GenAI features, consumers are increasingly leaning towards the latest models that cater to advanced technology needs.
Projected Sales Growth
According to forecasts, the iPhone 16 series is expected to witness a remarkable 30% increase in sales year-on-year compared to the iPhone 15 during its launch quarter in India. The iPhone’s significance in Apple’s growth strategy cannot be overstated, as India is set to play a crucial role in the company’s expansion over the next decade. IDC (International Data Corporation) anticipates that Apple’s smartphone volume share will reach 8% by 2024, reflecting a strong market presence.
What to Expect in the Festive Season
Besides the iPhone 16, the iPhone 14 and iPhone 15 models are also expected to see strong demand during the upcoming festive season. With consumers increasingly inclined to upgrade to the latest versions, this festive season could witness a surge in sales. Tarun Pathak, Director at Counterpoint Research, emphasizes, “With the iPhone 16, we anticipate a record number of upgrades this year, predominantly from first-time users.”
Affordability and Pricing Strategy
| Model | Starting Price (Rs) |
|---|---|
| iPhone 16 | 79,900 |
| iPhone 16 Plus | 89,900 |
| iPhone 16 Pro | 1,19,900 |
| iPhone 16 Pro Max | 1,49,900 |
Notably, the prices for the iPhone 16 series remain competitive, with the base model priced similarly to its predecessor, the iPhone 15. The iPhone 16 and iPhone 16 Plus are priced at Rs 79,900 and Rs 89,900, respectively, while the Pro models come at a starting price of Rs 1,19,900 and Rs 1,49,900โRs 15,000 lower than the iPhone 15 models, making them more accessible to a broader audience.
Competitive Landscape: Apple vs. Samsung
Apple’s strategic planning for the iPhone 16 Pro models is paying off, particularly in the luxury smartphone segment (devices priced above Rs 50,000). As a result, Apple poses an increasing challenge to Samsung, which has traditionally held a strong position in this market. Counterpoint Research has noted that in the first two quarters of 2024, sales of smartphones priced at Rs 1 lakh and above increased by 20% and 10%, respectively, illustrating the growing appetite for high-end devices.
