Tue Sep 10 21:50:06 UTC 2024: ## Apple’s iPhone 16 Launch Fuels Growth Expectations for Indian Market

**New Delhi:** The global launch of the iPhone 16 series by tech giant Apple is projected to boost the company’s revenue in India by a significant 18% in 2024. Industry analysts anticipate a surge in iPhone exports as well, driven by the new features and strategic pricing of the latest devices.

Apple’s new iPhone 16 series, featuring enhancements like Apple Intelligence, larger displays, and improved camera capabilities, has been priced competitively, especially the Pro version, compared to previous years. This move is expected to further penetrate the Indian market and increase Apple’s market share.

“Apple currently holds a 6% market share by volume and 16% by value in India. This double-digit growth rate is likely to continue,” said Tarun Pathak, Director at Counterpoint Research. “The company’s revenue in India could surpass $10 billion in 2025.”

The iPhone 16 series will be available in India starting September 20th. Analysts believe that a significant portion of Apple’s growth will come from first-time iPhone users. Apple’s ongoing expansion in India, through increased retail presence and marketing efforts, is expected to further contribute to this growth.

“Apple is an aspirational brand in India, but the high price tag has been a barrier for many,” added Pathak. “However, the availability of attractive financing schemes makes iPhones more accessible to consumers.” Recent consumer research reveals that 6 out of 10 premium smartphone buyers prefer financing options.

Apple’s commitment to “Make in India” and the production-linked incentive (PLI) scheme have led to a significant increase in iPhone manufacturing within India. From less than 1% in 2017, local production is projected to reach 10% of Apple’s global shipments in 2023, with a goal of 25% by 2025.

“The new iPhone 16 series is poised to further strengthen Apple’s presence in India,” commented Prabhu Ram, VP, Industry Research Group at CyberMedia Research (CMR). “Increased manufacturing under ‘Make in India’ is a key factor driving this growth.”

Overall, the iPhone 16 launch is expected to be a major catalyst for Apple’s continued expansion in the Indian market, fueled by a combination of new features, competitive pricing, and a robust ecosystem of local manufacturing and financing options.

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