Apple breaks into India’s top 5 smartphone brands with record festive sales: Report

Apple Inc. has achieved a huge milestone by breaking into the top five smartphone brands in India for the first time since it began selling iPhones in the country.

“Apple set a record by entering the top five vendor list for the Indian smartphone market in Q4 2024 with a market share exceeding 9%,” Moneycontrol quoted Upasana Joshi, Research Director at IDC, as saying.

She said the surge in market share was largely due to aggressive festive discounts, no-cost EMI offers spanning up to 24 months, and exclusive deals from online retailers, which boosted Apple’s growth throughout the year.

India is poised to become Apple’s third-largest market globally by 2026, behind only the United States and China. Apple’s shipments in India rose to over 12 million units in 2024, a 34–35% year-on-year growth from 9 million units in 2023, according to IDC.

Tarun Pathak, Research Director at Counterpoint Research, credited Apple’s growth in India to the growing “premiumisation” trend in the smartphone market.

"With increasing disposable income and aspirational purchases among the growing middle class, especially the youth, Apple has become the brand of choice for young consumers. Beyond Tier 2 cities, the iPhone represents more than just a smartphone—it’s a lifestyle statement,” Pathak was quoted as saying.

Apple began producing the iPhone 16 Pro and iPhone 16 Pro Max in India in 2024 through its contract manufacturers Foxconn and Pegatron.

India’s smartphone market recorded shipments of over 38 million units in the fourth quarter of 2024, with annual shipments projected at approximately 153–154 million units, according to IDC.

Apple India reported a 23% rise in net profit to ₹2,745.7 crore in FY2023-24, driven by a 36% year-on-year revenue growth to ₹67,121.6 crore. Analysts expect continued growth in 2025, as Apple expands its India-made portfolio, including iPads, AirPods, and MacBooks.