Apple doubles India business in 2021; sold 3.2 million iPhones in 2020

“During FY21, we generated about one-third of our revenue from emerging markets and doubled our business in India and Vietnam. We are optimistic about the future, especially as we see strong demand for our new products,” Cook said.

Apple follows the October-September financial cycle instead of April-April.

Apple doesn’t break down India’s phone sales numbers. However, according to market research firm Counterpoint Research, the company sold 3.2 million iPhones in India during the 2020 calendar year.

“The recent quarter was the best quarter ever for Apple in India. The full impact of the festive season will be visible in the next quarter and we believe the iPhone 12 will be the leader in the portfolio.”

According to CyberMedia Research (CMR), Apple’s shipments to India registered a 150 percent quarter-on-quarter growth during the quarter ended September 2021, a 28% year-on-year growth.

“Leveraging Apple’s aspirational appeal among consumers, older generation iPhones, particularly the iPhone 12 and iPhone 11, contributed to Apple’s success in the quarter. Despite the current supply side dynamics, Apple is on track to post its best performance in India, ending the year with a potential 3.5% market share,” said Prabhu Ram, Head of Industry Intelligence Group at CMR.

Despite the strong numbers, the iPhone maker said supply constraints impacted its ability to meet demand during the quarter, a problem Apple expects to escalate during the December quarter.

Cook and Chief Financial Officer (CFO) Luca Maestri explained that these issues are affecting electronics firms around the world due to the pandemic and due to global chip shortages. Cook believes that while the Covid-induced issues are starting to ease, the chip shortage will get worse in the December quarter.

Although the pandemic may have helped Apple in India.

“Apple had the strongest line-up in India over the past year which contributed to the growth. In addition, the trend driven by the pandemic has driven the growth of iPad, Mac, Airpod, and services in India as well,” CMR’s Ram said. “Strong product demand coupled with a dedicated channel strategy helped Apple grow in India helped to grow. Apple’s quarter was very successful for iPhones, with shipments surpassing a record 2 million units in the same quarter for the first time. iPhone 11 and 12 contributed about 62% of this.”