Apple CEO Tim Cook and Senior Vice President Deirdre O’Brien at the opening of the company's first store in India in Mumbai’s Bandra-Kurla Complex. / Apple
Two weeks ago, global research analyst Counterpoint released a report on the Indian smartphone market. It revealed that shipments of Apple’s iPhone crossed the 10-million mark last year, helping it capture the top spot in revenue for the first time ever in a calendar year. Samsung sold more phones, but Apple made more money in India because, on average, an iPhone costs three times as much as most other premium phones.
In other ways too, 2023 has been a year when Apple grew and consolidated in India in multiple directions: The company now makes iPhones in India through three contract manufacturers – all Taiwanese: Foxconn, Pegatron and Wistron. The India plants of the last named company have now been acquired by the Tata Group.