Diwali time is a lucrative time for smartphone companies, but this year, that is unlikely to be the case for Apple. As per data shared by Counterpoint Research, Apple is set to take a significant hit in sales during the festive season.
According to Counterpoint Research’s Neil Shah, channel inventory checks suggest that iPhone sales in India during Q4 2018 is likely to be around 700,000-800,000, Reuters reports. This is down from around 1 million recorded during the same period last year.
This dip was also noticed during the last quarter when Apple is believed to have sold around 450,000 iPhones. In comparison, last year during the same quarter Apple had managed to sell around 900,000 units.
This trend is being seen throughout the year. As per Counterpoint data, Apple is believed to be on course to sell around 2 million iPhones in India in 2018. This is down from roughly 3 million in 2017, and will mark the first full-year decrease in four years.
“iPhones have gone costlier and the features and specs aren’t that compelling. The install base of Android has grown vastly; the new customer base (for Apple) is not coming,” Shah was quoted as saying in the report.
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Apple is estimated to have a market share of just around 1 percent in India, a market which continues to grow in double digits. With sales cooling off in markets like China, Apple is looking to reach out to India consumers but its efforts have not resulted in huge dividends so far.
Despite this, Apple CEO Tim Cook remains bullish about the Indian market. During the recent earnings call, Cook said, “I am very bullish on the country and the people and our ability to do well there.”
Cook reiterated that Apple was in talks with the Indian government to start local manufacturing, and bring its stores to the country. “We’ve had really great productive discussions with the Indian government, and I fully expect that at some point, they will agree to allow us to bring our stores into the country,” he said.