Apple has been one of the most pioneering companies in the world. You can’t deny the fact that Apple has completely revolutionised the smartphone industry, as well as other consumer goods industries. Apple products are regarded as some of the best in the world and are defined by the class that’s exclusive to their products.
As such, Apple products are also quite polarising in nature – you can either hate them or love them. There is no in between. People are always of the opinion that Apple products are heavily overpriced, but they don’t realise that they are paying not only for the product but also for the Apple experience.
Eyes On India
India has been one of Apple’s key markets for quite some time. Though the arrival of Chinese smartphone makers such as Xiaomi, Oppo and Vivo has deterred some of its rise, Apple has always been competing in the premium market space.
As such Apple CEO Tim Cook has stated that it wants India to have a bigger slice of Apple. Tim Cook has stated that it plans on bringing all of its newest initiatives for the Indian markets. Apple has seen a growth of 20 percent year-on-year in India and it seems that Apple is very keen on keeping that momentum growing fast.
“India is the third largest smartphone market in the world. There’s huge opportunities there for us and we have an extremely low share in that market overall,” Cook said in one of his earnings call with analysts, after Apple announced its best-ever overall March quarter results, with revenue of $61 billion.
Unique Indian Challenges
However, India is a market of budget smartphones, where large swaths of the population is interested in getting a device that is under Rs 10,000. Apple does not offer such products. For it to succeed in India, there is a big need for cost-cutting on the production side of things.
Some of the ways Apple has been doing this is to partner up with local telecom service providers such as Airtel, Jio and Vodafone. The partnership will offer bundled voice and data plans. However, though Apple’s growth is steadily increasing, revenue has been steadily on the decline for the past 5 years.
One of the biggest success stories in the country would be by the inclusion of the iPhone SE, which has been specially designed for markets where the high-cost handsets such as Apple’s premium iPhone 8, iPhone 8 Plus and the ultra expensive iPhone X is not the ideal choice to buy. Reports have indicated that the iPhone SE 2 is coming soon and it will surely be key in opening the Indian market. We will just have to wait and see what Tim Cook means by bringing in more of Apple to India.
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