Apple emerged as the top earner in India's smartphone market in 2023, nearly reaching the impressive $10 billion milestone, according to a report from Counterpoint India released on Wednesday. This marks the first time that the tech giant has claimed the highest revenue spot in the Indian smartphone market. Two industry insiders, who advise various smartphone brands, revealed that Apple's revenue from iPhone sales in India fell just short of $10 billion. Nonetheless, it was sufficient to dethrone Samsung, the Korean electronics giant, which had long dominated the revenue charts for smartphone sales in India.

Apple's remarkable achievement comes at a time when consumer interest in smartphones in India has been tepid. Counterpoint's report highlighted that smartphone shipments in India remained stagnant in 2023, totaling 152 million units. In contrast, Apple managed to ship over 10 million iPhones for the first time, exhibiting a remarkable growth rate of over 50% year-on-year (YoY).

Tarun Pathak, research director at Counterpoint, commented on Apple's performance, stating, "Apple continues to experience robust consumer demand and is poised to maintain strong double-digit shipment growth in CY24. In comparison, the overall smartphone market is projected to see modest 5% YoY growth this year, contingent upon global macroeconomic conditions."

Apple's increased market share in India follows a series of consecutive quarterly revenue records from iPhone sales in the country.

iPhone 15 becomes cheaper by Rs 12 thousand, you will save even more money with these offers