Apple India saw sales develop by 93% in the course of the October-December quarter against the exact same period a year ago, as restrictions on international flights prevented frequent fliers from purchasing the devices abroad at reduce rates. This was the highest development in sales recorded by Apple in India.
Trade analysts estimate that about 65-70% of iPhones sold in India are not sold via regular retail channels. Traders, who travel to nations like the US or the UAE on a common basis, get devices there and sell them in the Indian industry. For buyers, such a buy is more affordable considering the fact that apart from a reduce maximum retail value, no taxes have to be paid on these phones. The value distinction due to such arbitrage can be as substantially as 40%.
For instance, the iPhone 12 (256 GB) expenses Rs 15,065 more in India than in the UAE, whilst the iPhone 12 PRO (512 GB) expenses Rs 35,377 more. Before the pandemic, there would be about 183 flights a week in between India and UAE from more than seven destinations in the nation.
Moreover, sales of iPhone 11, iPhone SE (2020) and iPhone XR also zoomed in the course of the period. All these devices are produced in India, which assists hold the value competitive as 20% fundamental customs duty is not levied on them. Some pent-up demand for the iPhone 12 also led to the development.
In the December quarter earnings contact, Apple CEO Tim Cook produced a unique mention of sales in India. He stated Apple had doubled its company in the nation in the quarter, compared to the exact same period the year prior to.
According to International Data Corporation’s, the October-December quarter saw record smartphone shipments of 45 million devices, a 21% y-o-y development. Although, IDC did not share Apple’s shipment volumes, it stated that Apple became the seventh highest smartphone vendor in India in the course of the period.
An analyst confirmed to FE that of the 45 million smartphones sold in the course of the October-December quarter, about 1.5 million had been iPhones, which constituted a 3% industry share.