Apple sets revenue record in India

The iPhone has been doing pretty well in India over the past few quarters, and this quarter was no exception. On Apple's quarterly conference call, CEO Tim Cook announced that iPhone revenue increased 10% year-over-year to $42.6 billion. Cook also revealed that the iPhone's performance in emerging markets has been "particularly" impressive. In it, Cook said India had set "a new all-time revenue record".

Why are Indians buying more iPhones?

The iPhone has always been an up-and-coming product, and one thing that certainly helped Apple was the celebratory discounts offered across all of its e-commerce platforms. Both Amazon and Flipkart offered older models like the iPhone 12 and iPhone 13 at attractive prices. These festive sales on both major e-commerce platforms spanned almost a month. The iPhone 13, just for a second, on Flipkart he sold for under 50,000 rupees. Realistic prices ranged from Rs 55,000 to 60,000, but the iPhone 13 was very popular. On the other hand, Amazon offers the iPhone 12 series at a low price. Apple also offered cashback at its online store.

Cook also said the company set a quarterly record for "upgrades" (moving from an old iPhone to a new iPhone). It's not just that "switchers" -- people making the switch from Android to iPhone -- are seeing double-digit growth.

Apple has continued to grow in India over the past two years. In July of this year, Cybermedia Research (CMR) reported that Apple sold about 1.2 million iPhones in the second quarter of 2022. This was about 94% growth year over year. CMR also attributes this growth to strong sales of the iPhone 12 and iPhone 13. And it wouldn't surprise us if these two iPhones return to the top of the charts in sales.

Apple facing problems with iPhone 14 series.

While Apple has new record earnings, the company is facing several issues with their latest iPhone 14 lineup. The iPhone 14 and the iPhone 14 Plus are not selling as well as Apple had hoped. The company is cutting the production of the iPhone 14 Plus, this is because the iPhone 13 series is largely similar to the base iPhone 14. (Click here to read more about it.)

On the other hand, Apple is facing a supply shortage for the iPhone 14 Pro and the iPhone 14 Pro Max in India. This is because of supply chain issues as Apple does not make the 14 Pro duo in India. (Click here to read more.)