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News on Medial
Apple set to end 2023 with 7% market share for iPhones in Android-dominated India
Economic Times
·
1y ago
Medial
New spy images of Elon Musk's Cybertruck reveal interior updates, including changes in wheel design and the center console while retaining the minimalist layout. The release date remains uncertain due to Tesla's refinements. The images show notable changes compared to May, with a refreshed wheel design. The interior design aligns with Tesla's minimalistic approach. Enthusiasts eagerly await deliveries, but Tesla faces challenges ensuring seamless fit for the unique design, potentially causing further delays.
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Apple leads India tablet PC market with 25% share in 2023
Economic Times
·
1y ago
Medial
According to a report by CyberMedia Research, Apple dominated the India tablet PC market in 2023, holding a 25% market share. Samsung followed at the second spot with a 23% market share. Apple's tablet shipments declined by 17% YoY, while Samsung's grew by 36%. The report also highlighted the rising demand for diverse tablet options in India, including premium and 5G tablets. The market is expected to grow by 5-10% in 2024 due to technological advancements and evolving consumer preferences.
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Now, 1 in 7 iPhones Manufactured In India As Output Hits $14 Bn
Inc42
·
1y ago
Medial
Apple has manufactured around $14 billion worth of iPhones in India during the fiscal year 2024. This makes up approximately 14% of the company's flagship devices, which translates to about 1 in every 7 iPhones. Taiwanese manufacturers Foxconn and Pegatron have played a significant role in boosting Apple's production output in India. Foxconn assembled around 67% of the iPhones made in India, while Pegatron contributed about 17%. This move is part of Apple's effort to diversify its supply chains and reduce its dependence on China for production. The company is also reportedly planning to offer residential facilities to factory workers in India. In terms of revenue, Apple accounted for 23% of smartphone revenue share in India in 2023, making it the top smartphone brand in the country.
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Apple India Set To Clock Over INR 70,000 Cr In Revenue
Inc42
·
1y ago
Medial
Apple India is predicted to surpass INR 70,000 Crore in revenue for the fiscal year ending in March, becoming the second electronics brand in the country to achieve this milestone after Samsung. Apple's sales have grown over 40% for two consecutive years. However, the rate of expansion is expected to slow down in the coming years. Apple's market share in India rose from below 2% in FY18 to 6% in March 2023, while Samsung's market share declined from 26% to 20% over the same period. Apple manufactured iPhones worth INR 1 lakh Crore in India in 2023.
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Apple Sets Revenue Record In India Amid Global Slowdown
Inc42
·
1y ago
Medial
Apple recorded record revenue in India during the March quarter, despite a 4% decline in overall revenue due to a decrease in iPhone sales. The company's CEO, Tim Cook, expressed satisfaction with the strong double-digit growth in India and emphasized the country's importance as a market. Apple has been expanding its operations and go-to-market strategies in India and recently opened new stores. Cook highlighted the significant opportunities in emerging markets like India, Mexico, Saudi Arabia, and Brazil, where Apple's market share is low but growing. In India, Apple's retail outlets recorded high revenues, and the company manufactured iPhones worth INR 1 Lakh Cr in 2023.
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Apple's market share in India set to rise as iPhone 15 lineup goes on sale today
Livemint
·
1y ago
Medial
Apple's market share in India is expected to increase as its flagship iPhone 15 lineup went on sale in the country. According to Counterpoint Research, Apple's market share is projected to rise from 5% in the first half of 2023 to around 7% in the second half of the same year. Demand for iPhone 15 Pro and Pro Max models is high, with waiting times extending to the end of October. Apple's success in India can be attributed to the growth of the premium smartphone segment in the country.
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Apple India becomes top in India, earns Rs. 80,000 Crore revenue
Livemint
·
1y ago
Medial
Apple has become the top smartphone market revenue earner in India in 2023, according to a report by Counterpoint India. Although Apple's revenue from iPhones fell just short of $10 billion, it was enough to surpass Samsung as the leader in terms of smartphone sales revenue. Despite a lack of enthusiasm among consumers towards smartphones, Apple shipped more than 10 million iPhones for the first time, experiencing over 50% YoY growth. Apple is expected to maintain strong double-digit shipment growth in 2024.
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Apple’s India sales surge 33% to record as China shift persists
Economic Times
·
1y ago
Medial
Apple Inc. achieved record annual sales of nearly $8 billion in India, indicating a growing market where the company assembles more of its devices and operates two flagship stores. The revenue from India increased by 33% in the past year, with Apple's pricey iPhones comprising over half of the sales. This growth exemplifies Apple's progress in targeting India as a diversification strategy beyond the larger Chinese market. Despite dominating the market with cheaper Chinese devices using Android, Apple's presence is gradually increasing in India's expanding middle class.
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Tata Group acquires 100% stake in Wistron India to make iPhones in India
IndianStartupNews
·
1y ago
Medial
The Tata Group has acquired a 100% equity stake in Wistron Infocomm Manufacturing (India), making it the first Indian company to fully assemble iPhones. This move not only expands Tata's manufacturing capabilities but also positions them as a major player in the global electronics market. The acquisition is expected to boost India's electronics manufacturing sector and enhance the value chain for Tata. The company is set to begin end-to-end assembly of iPhones in India, starting with the iPhone 17 in the second half of 2024. This aligns with Apple's strategy to reduce reliance on Chinese manufacturing.
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Apple manufactured iPhones worth INR 1 lakh cr in India in 2023
Inc42
·
1y ago
Medial
Cupertino-based tech giant Apple manufactured iPhones worth INR 1 lakh crore in India in 2023. The company sharply increased its production in the country, with the FOB value of the devices standing at INR 1 lakh crore. Of the total output, INR 65,000 crore worth of "Made in India" iPhones were exported globally. Foxconn emerged as the largest manufacturer, contributing 68% to the total production, followed by Pegatron and Wistron. Apple plans to produce over 50 million iPhones in India annually.
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Made-in-India smartphone shipments rose 6% in 2024: Apple, Samsung drove 94% of exports | Report
Economic Times
·
4m ago
Medial
In 2024, Apple and Samsung dominated India's smartphone exports, comprising 94% of shipments amid local manufacturing expansion, according to Counterpoint's report. Made-in-India smartphone shipments rose by 6%, with projections of double-digit growth in 2025. Samsung led with 7% year-on-year growth, followed by Vivo. Tata Electronics, aided by iPhone production, experienced 107% growth. India's favorable market conditions and government schemes enhance its position as a prime manufacturing hub.
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