Apple Breaks Into the World’s Fastest Growing Smartphone Market
With some shifts and tweaks to its strategy, Apple (NASDAQ:AAPL) is now taking advantage of the world’s fastest growing smartphone market: India.
However, arch rival Samsung still maintains a healthy lead in the region with 38.8 percent market share, more than double Apple’s 15.6 percent. Given the slow start that the company had there, this is quite an impressive feat. Changes being made to how Apple conducts business in India are shifting sales in its favor, and have given the company a bolster in sales that is setting it on track to be a contender for the number one slot.
India’s smartphone market operates a little bit differently than other markets such as North America, or Europe. The majority of phones sold in the country are moved through small, independent, family-owned businesses, and corporate store locations are few and far between. Apple has been able adapt to this model, and sales have grown tremendously as a result…
Before Apple’s recently improved strategy, the iPhone cost about 30 percent more than the equivalent model in the U.S., and delivery could take as long as a year.
Now that Apple has started to take India more seriously as a market, the results have been dramatic. “Suddenly, everyone was throwing out their BlackBerrys (NASDAQ:BBRY), Samsungs, Nokias (NYSE:NOK), and everyone was kind of changing to an iPhone,” said customer Akanshya Balram.
Sony (NYSE:SNE) comes in third, with 9.4 percent of the market, and Nokia in fourth, with 7.3 percent of the market.