iPhone Sales Grew 78% YoY in India Last Quarter [Report]

iPhone Sales Grew 78% YoY in India Last Quarter [Report]

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Apple increased sales of iPhones in India by 78% year over year last quarter, according to a new report from Counterpoint Research.

The smartphone market grew 4% YoY in India to 31 million units in Q1 2020, limited by a steep -19% decline in March due to the coronavirus outbreak. A nationwide lockdown, expected to remain in effect from the last week of March until May 3rd, will likely have significant impact on shipments for the second quarter. Signs of recovery will could start in Q3; however, Counterpoint expects an overall smartphone shipment decline of 10% for 2020.

Prachir Singh, Senior Research Analyst at Counterpoint Research says, “The COVID-19 effect on India was relatively mild until mid-March. However, economic activities declined as people save money in expectation of an extended period of uncertainty and an almost complete lockdown. Almost all smartphone manufacturing has been suspended. Further, with the social distancing norms, factories will be running at lower capacities even after the lockdown is lifted. Consumer demand will have a larger impact on smartphone sales, as people will focus on saving and therefore limit discretionary purchases. As entry-level smartphone consumers will be the worst-hit by the lockdown, the demand for the entry-level smartphones will decline in the near-term. We believe demand will shift to the second part of the year. Even if the situation stabilizes by mid-year, people may hold-off purchasing until the festive season.”

Apple's strong performance in Q1 was reportedly driven by the iPhone 11 and various discounts.

Apple grew a strong 78% YoY driven by strong shipments of iPhone 11 and multiple discounts on platforms like Flipkart and Amazon. In the ultra-premium segment (>INR 45000,~$600 ) it was the leading brand with a market share of 55%.

We'll have a better picture of how Apple has been affected by COVID-19 shutdowns when the company reports earnings tomorrow.

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iPhone Sales Grew 78% YoY in India Last Quarter [Report]