During the announcement of Q4 2016 results, Apple reported that iPhone sales grew by huge 50% in India. The big jump in iPhone sales in the world’s second-largest smartphone industry has once again made the Cupertino-based company take the country more seriously.
With 50% Jump in iPhone Sales, India Presents Plenty of Hope for Apple
“Our iPhone sales in India were up over 50 percent in fiscal 2016 compared to the prior year, and we believe we’re just beginning to scratch the surface of this large and growing market opportunity,” Cook said.
As iPhone sales continue to decline in China which has traditionally been a strong market for the tech giant, the second most populated country and the world’s fastest growing major economy seems to be well on course to emerge as an alternative to China.
“We are very bullish on China. We continue to see a middle-class that is booming there. There might be some sort of a new normal in the economy, but a new normal there is still a good growth rate.” Cook said during the announcement of company’s Q4 2016 results.
When Tim Cook had visited India earlier this year, he had stressed that the company would intensify its efforts to explore the fast growing market.
“That’s not critical for us to have a great success there. The truth is there’s going to be a lot of people there and a lot of people in the middle class that will really want a smartphone, and I think we can compete well for some percentage of those. And Given our starting point, even though we’ve been growing a lot, there’s a lot of headroom there in our mind. So, we’re working very hard to realize that opportunity.” Apple CEO further added.
Currently, more than 50% people in India are below the age of 25. With the country growing at a rapid rate, the days are not too far away when it would become a major force or be at par with China.