Not UK Or Japan: India To Emerge As Apple's Third-Largest iPhone Market In Just 2 Years

This story was first published on the Benzinga India portal.

By 2026, India is set to surpass both Japan and the UK to become the third-largest iPhone market for Apple Inc. AAPL, according to a report by Counterpoint Research.

Apple witnessed a significant milestone in India in 2023 as iPhone shipments crossed the 10 million mark for the first time, thus leading to revenue generation.

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Interestingly, iPhones produced in India contributed 13% to the global shipments in 2023, representing an impressive leap from a mere 1% in 2018. This surge is attributed to Apple's growing brand affinity in the country, positioning India as the technology giant's fastest-growing market in the forthcoming years.

Looking forward, it is projected that by 2025, Apple's services sector will account for a quarter of its total revenue, with expectations of crossing the $100 billion mark annually. The thriving Apple ecosystem, sustained by an installed base of over two billion devices, is driven by services like the Apple Store, Apple Care+, and the AppleOne subscription.

Introduced in 2023, the Apple One subscription is expected to significantly boost Apple's service revenue, underlining the crucial role played by the iPhone within Apple's ecosystem. As Apple continues to penetrate emerging markets, the demand for iPhones not only bolsters its sales but also fosters growth across Apple's product range, luring new users into the iOS ecosystem.

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