NEW DELHI: With the launch of the iPhone 16 series, Apple is poised to significantly expand its market share in India, with industry analysts predicting a potential increase of up to 8 per cent by the end of 2024. They also opine that the new Apple iPhone 16 series, launched globally on Monday, will fuel Apple's growth momentum in India, capitalizing on the strong aspirational appeal it holds among Indian consumers.
The features of the iPhone 16 series will lead Indian buyers to prioritize the latest iPhone models, reversing the historical trend of opting for older generations. Furthermore, the affordable pricing of the iPhone 16 Pro is expected to fuel upgrades, making it a compelling option for a wider range of consumers.
“The new Apple iPhone 16 series will fuel Apple's growth momentum in India, capitalizing on the strong aspirational appeal it holds among Indian consumers. More buyers are prioritizing the latest iPhone models, reversing the historical trend of opting for older generations,” said Prabhu Ram, VP - Industry Research Group (IRG), CyberMedia Research (CMR).
According to CyberMedia Research, Apple is expected to achieve a strong 30 per cent year-over-year growth in the launch quarter, compared to the iPhone 15 series. The American tech giant launched the iPhone 16 series on September 9, with a strong focus on its AI features, dubbed Apple Intelligence, in both the standard and Pro models.
The iPhone 16 series, powered by the new A18 chip, will be available in India from September 20, priced from Rs. 79,900 for the base model, Rs. 89,900 for the iPhone 16 Plus, Rs. 1,19,900 for the 128GB iPhone 16 Pro, and Rs. 1,44,900 for the 256GB iPhone 16 Pro Max, with pre-orders starting on September 13.
Tarun Pathak, Research Director at Counterpoint, notes that Apple is peaking at the right time in India, as the premiumization trend is rising, with almost 17 per cent of volumes and 45 per cent of value coming from the premium segment alone (Rs. 30,000 and above). Hence, Apple's revenues in India are likely to grow 18 per cent YoY in 2024, with double-digit growth expected to continue in 2025.
Faisal Kawoosa, Founder of TechArc, believes that the iPhone 16 series has interesting additions and upgrades, primarily due to Apple Intelligence, making it a significant launch compared to previous ones. "The interesting thing to note is that even the base variant iPhone 16 doesn't lack key capabilities, which should result in giving tough competition to players like Google Pixel, which just tried to go bolder after the 9 series launch. I see a lot of potential Pixel buyers now preferring iPhone 16 and 16 Plus," said Kawoosa.
