Image via Apple
Folks looking for growth, where Apple’s concerned, may want to cast their eyes on the subcontinent. Bloomberg says iPhone went big in India last quarter, is a smallish sort of way. Citing numbers from Counterpoint Research, the piece says iPhone sales “increased to 2.3 million units in the fourth quarter, up 34% from a year earlier…”
2.3-million in a country of 1.3-billion may not seem like a lot. Mostly because it’s not. iPhone sales were also dwarfed by Samsung’s 7.2-million sold and Xiaomi’s 9.3-million. Still, there are two reasons for investors to be excited. First, despite selling nowhere near the number of phones sold by its competitors, Apple made the most money. According to Bloomberg:
Apple appears to have pulled in more revenue than any of its rivals, (…), because of the iPhone’s high price tag, according to Counterpoint’s calculations. The U.S. company took in an estimated $2.09 billion for the quarter, edging aside Samsung with revenue of about $2 billion.
The other reason for investors to be excited - room to grow. Despite estimated year-over-year unit growth of 34% last quarter, Counterpoint figures iPhone’s share of India’s smartphone market is about 5%.
Growth with room to keep growing tends to make investors tingly.
