Smartphone ownership is on the rise inside one of the world’s largest mobile communities.
In a new report from the Economic Times of India, Credit Suisse points to the establishment of installment payment plans and major discounts in India for Apple’s recent fourfold boost in iPhone sales there over the past four months.
Apple now moves nearly 400,000 handsets each month, Friday’s report reveals. It should be noted, however, that Apple does not reveal sales figures for individual markets, so these estimates may be as close to an actual sales number as we will get.
As one of the fastest growing emerging markets for mobile devices, India is quickly becoming a major stage upon which Apple, Samsung, and other mobile tech makers are waging war for the hearts of India’s tech lovers.
In particular, Apple’s iPhone is a hot commodity there today. According to the Times of India, Apple could see $1 billion in sales for 2013 in India alone – a clear indication that India is now a critical market for smartphone makers everywhere.
These figures predate the aggressive marketing strategies adopted by Apple in the past six months, and experts say it is possible that Apple India’s strong showing in 2011-12 woke the company up to the country’s potential.
“The huge jump in revenues has made the company realize India’s potential. Apple is now chasing volumes and looking at the numbers game,” says Manasi Yadav of IDC.