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Sales of iPhones have soared in the last 4-5 years to a record high volume of 10 million in 2023, going by the iPhone shipments to India by Apple Inc. Typically, the cost of iPhones is relatively much higher in India, thereby considered as a premium smartphone compared to other variants available in the market. India’s young population wants aspirational products, and it appears like the iPhone is on top of that list. Consequently, India is now counted amongst top-5 countries for sale of iPhones in the world, and available market estimates suggests it will soon become third largest in another 2-3 years.

No. of iPhones shipped in India by Apple (in Millions)

2015 1.8

2016 2.5

2017 3.2

2018 1.7

2019 1.9

2020 3.2

2021 5.4

2022 5.9

2023 10

2024F 12

Source: Counterpoint Research data

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