Apple is set to witness lower shipments of its devices such as Apple Watches, iPads, Macs and AirPods, says a report by ET Telecom, citing industry analysts. This comes amid an estimated growth in iPhone shipments.
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Mac shipments are expected to decline in the range of 15 per cent to 18 per cent in calendar year 2023, as per the analysts. iPad shipments are estimated to fall 6 per cent to 8 per cent, sais analysts at Counterpoint Research.
It is pertinent to note that Apple iPhone shipments are set to double, at a time when the overall smartphone market is poised to shrink 2 per cent. With 152 million smartphones sold in the calendar year 2022, a 2 per cent decline would result in approximately 149 million units sold in 2023. Apple constituted around 6 per cent of the total sales, accounting for approximately 8.9 million units, the report noted.
The report further added that it is not clear if this would be the first time that Apple would see a decline in shipments ofdevices, barring iPhone models.
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As iPhone sales soar and other products face challenges, iPhone models are expected to contribute a larger share to Apple’s revenue in India, growing from 85 per cent last year to an estimated 88 per cent-90 per cent this year, according to Tarun Pathak, Research Director at Counterpoint, the ET report added.
In the financial year 2022-23 (FY23), Apple India experienced a 48 per cent increase in revenue, hitting Rs 49,321 crore. Net profit also surged by 76 per cent, reaching Rs 2,229 crore. Despite holding a mere five percent market share in terms of units, Apple secured the second-largest revenue share in 2022 at 18 per cent, trailing only behind South Korea’s tech giant Samsung.
Meanwhile, a report from October stated that Apple India’s business logged a revenue growth of 48 per cent in the fiscal year 2022-23 (FY23), as per data from company research platform Tofler. The iPhone maker registered a revenue of Rs 49,332 crore in the reporting period and stated that it’s total expenses during the period grew by 46.5 per cent on a year-on-year (YoY) basis and stood at Rs 46,444 crore during the reporting fiscal.
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The Cupertino, California-based tech giant has been focusing on the Indian market recently, in terms of product sales, along with manufacturing iPhones and other Apple products in the country.
