Apple’s iPhone sales could explode in this market in 2021

The iPhone 12 line has generated impressive sales for Apple (NASDAQ: AAPL) and the company is expected to significantly increase production in 2021 to meet the strong demand for its 5G-enabled offerings. This is not surprising, as Apple had a huge installed base of users ready to upgrade to 5G-compatible smartphones, and the company gave them a very good reason to make the leap with the affordable iPhone 12 line.

Perhaps more importantly, the iPhone 12 could help Apple push boundaries in India, an important market it has traditionally struggled in. Let’s see how.

Image source: Getty Images.

Fifth generation smartphones are about to take off in India

Apple struggled to gain substantial market share in India due to its premium price. It reportedly held only 2% of the Indian smartphone market at the end of 2019, despite experiencing a 41% increase in shipments over the year. The good part is that Apple built its 2019 success in India and is estimated to have shipped 2.5 million iPhones in 2020, making it the company’s best year in the country since 2017.

But that still doesn’t make Apple a dominant player in India, as overall smartphone shipments there were 150.2 million in 2020, according to Canalys. However, 2021 could prove to be a much better year for the Californian company thanks to a sharp increase in 5G smartphone shipments to India.

Counterpoint Research predicts that 5G smartphone shipments in India could grow more than ninefold in 2021 to 38 million units, up from an estimated 4 million last year. Apple is in a solid position to take advantage of this huge leap.

Apple could get a nice pass

The 5G-enabled iPhone 12 mini is in one of the fastest growing smartphone segments in the country: devices priced at $ 500 and up. Originally priced at 69,900 rupees (about $ 960 at the current exchange rate), the iPhone 12 mini can be purchased for 47,900 rupees (about $ 660) from Apple’s online store in India after trade-in and other offers. This makes Apple’s phone more or less on par with other entry-level 5G flagship smartphone offerings in the country.

The OnePlus 8T 5G, for example, costs 42,999 rupees in India. The more expensive OnePlus 8 Pro is priced at 54,999 rupees, which brings it closer to the iPhone 12’s post-trade-in price of 57,900. Additionally, Apple is expected to start offering India-made iPhone 12s from next month, a move that could help the company cut prices substantially and make its 5G phones cheaper than rivals’ after trade-ins and discounts.

Demand for premium smartphones in India (meaning those priced above $ 500) increased 91% year-over-year in the third quarter of 2020, according to IDC. Apple is a major player in this segment, with its premium smartphone market share hovering around 50% in 2020.

A closer look at the list of 5G smartphones for sale in India suggests that most of the devices are priced above 30,000 rupees (around $ 411), with the exception of a few entry-level devices. So Apple could see a significant increase in smartphone shipments to India this year if it continues to maintain its market share in the premium segment.

Meanwhile, there are rumors that Apple has put 5G connectivity into its entry-level iPhone SE this year. Supply chain rumors indicate that the next iteration of the iPhone SE could shake up the same A14 Bionic processor that powers the iPhone 12 and could launch in the second half of the year. Apple will have a better chance of grabbing a larger share of 5G smartphone space in India if it can pull off a $ 400 5G-enabled iPhone SE.

All in all, it wouldn’t be surprising to see Apple’s iPhone sales take off in India this year and help the company climb the market share rankings. More importantly, Apple could win big from India’s 5G smartphone market in the long run, as shipments are projected to hit 144 million units by 2025 according to a third-party report, making it one of the top stocks for investors. they can buy to take advantage of India. nascent 5G market.

Through: www.fool.com

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