Apple's latest iPhone 18 Pro and Pro Max have generated considerable excitement in India, with long queues forming outside stores in major cities like Mumbai, Delhi, and Bengaluru. Customers reportedly waited over 10 hours to purchase the new models, highlighting the iPhone's status as a luxury item.
Analysts predict that Apple's market share in India could reach 10% by 2026, up from 4% in 2022, driven by a 20% increase in demand for the new models compared to last year's iPhone 17. This growth comes as Chinese smartphone brands are losing market share amid rising global chip costs, which have forced many affordable brands to increase their prices.
Despite Apple's own price hikes, the brand is perceived as more premium and aspirational, aided by financing options like zero-cost monthly payments that make high-end models more accessible.
Although Apple's shipments to India fell in the June quarter due to supply issues, the new iPhone launches are expected to bolster its presence in the competitive Indian market, which is the second-largest smartphone market globally.
The article also touches on broader economic issues in India, including potential U.S. tariffs on Russian oil and a corporate dispute within the Tata Group, which could impact Apple's supply chain