Currently, India is third largest smartphone market in the world after USA and China. In the Q2 2016 alone the import of smartphones has grown 19% to reach 31 million units.
Yes, there is a craze for Apple iPhones in India but looks like it has decreased than what it was until last year. As per a report from Strategy Analytics, last year the company had shipped 1.2 million units to India in Q2 2016. But this year the sales have fallen to just 800,000 units in the same quarter dropping its sales by 35% annually. As per calculations, Apple's smartphone market share has halved from 4% to just 2% in India during the past year.
Adding to this, the report mentioned ways that Apple could overcome this;
Firstly, Apple needs to reduce the cost of its smartphones in order to bring up its sales in the competitive Android smartphone market in India.
Secondly, the company needs to increase the number of retail outlets.
This doesn't look good for Apple especially when the mobile giant has plans on opening company-owned stores in India.
Also, according to Tim Cook, CEO Apple who announced at the recent earnings call that in the first 3 quarters if the fiscal year, Apple sales had increased by 51% and the company was planning on opening retail stores in India. Apple's fiscal year 2016 runs from September 27, 2015 to September 24, 2016."
During his recent visit to India and China, Cook had seen good growth prospects in both the countries and had plans to take full advantage of both the markets. The company said that iPhone sales during the April-June quarter grew in double digits in key markets, including India, Japan, Turkey, Brazil, Canada and Sweden.
Furthermore, Cook added that Apple has also come up with a centre for supporting Indian developers who were creating apps for its iOS operating system. The company has also opened an office in Hyderabad to accelerate map development.