Apple Delivered Highest iPhone Sales, Revenue and Operating Profit Share Ever in 2022 The company’s performance in the Indian market was also a similar success, as a report claimed that it grew 16% year-on-year in 2022 and maintained its leadership across the premium segment as well as the ultra-premium segment. India has become a strategic market for Apple, and a new report suggests that Apple has now captured 25% of India-made smartphone shipments by value.
Apple’s Made in India iPhones
Apple’s “Made in India” shipments grew 65% by volume and 162% by value year over year, according to a report by Counterpoint Research. The value share of the brand thus increased from 12% in 2021 to 25% in 2022.
In fact, shipments of “Made in India” smartphones in terms of value saw a 34% year-over-year growth thanks to the local trend towards increasing premiumization as well as increasing exports of premium smartphones, notably from Apple.
“Some manufacturers are benefiting from the premiumization trend. Apple’s EMS (Electronics Manufacturing Services) partners Foxconn Hon Hai and Wistron were the fastest growing manufacturers among the top 10 in Q4 2022. The growth was also fueled by Apple’s rising exports,” said Senior Research Analyst Prachir Singh.
Shipments of “Made in India” smartphones are declining
The research firm said shipments of ‘Made in India’ smartphones fell 3% yoy in 2022 (January to December) as consumer demand eased that year amid macroeconomic headwinds.
Deliveries fell 19% year over year in the final quarter of 2022 on a slump in local demand – particularly in the entry-level and mid-range segments, according to the report.
However, in terms of total exports, there was a 37% year-on-year volume growth.
“Furthermore, the share of exports in total ‘Made in India’ smartphone shipments in 2022 reached an all-time high by both volume (20%) and value (30%),” Singh added.
Samsung top manufacturers in Q4 2022
In the fourth quarter of 2022, Samsung emerged ahead of Oppo as the leading smartphone maker. While Samsung’s shipments fell just 7% year over year on steady export volumes, Oppo saw its manufacturing fall 31% year over year due to inventory issues in the entry-level segment.
“Among EMS players, Foxconn Hon Hai led manufacturing shipments in Q4 2022, followed by Dixon, which remained the leading Indian EMS player in Q4 2022,” noted Singh. Lava led the “Made in India” shipments with a nearly 29% share in the feature phone segment.