Early entry of Apple’s new iPhone models may push sales to 5 million

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With early foray of Apple’s latest iPhone 13 series on Indian shores alongside developed markets like the US, the company is expected to post strong growth as yearly shipments are likely to touch a record 5 million in 2021 and $3 billion in revenue, The Economic Times, reported on Thursday. According to market trackers, older generation iPhone 11 and iPhone 12 will drive majority of the growth due to price cuts and discounts. By 2021, Apple would gain a market share of 3% once the shipment touches 5 million, the report noted.

It further said that the company could touch 2.4% market share in the fourth quarter, with the yearly shipments touching 4 million.

iPhone 12 series is gaining traction

Counterpoint Market Research (CMR) said that Apple now has an aggressive entry point beginning with iPhone SE, which was launched in 2020. However, iPhone 11 which until last quarter saw 60% of the overall iPhone sales will be taken over by the iPhone 12 series which is gaining a lot of traction in India.

It also observed that the new iPhone’s share in the overall sales figures during the launch quarter increased on a YoY basis.

On Tuesday night, Apple launched its iPhone 13 series, which includes iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max at a starting price of Rs 69,900 and would be available in markets like Australia, Canada, China, Germany, India, Japan, the UK, the US from September 24.