Business
As iPhone 15 looms over the horizon, decoding Apple’s India growth trajectory
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Like clockwork, the second Tuesday in September will again provide anchor for an Apple keynote to usher in the next iPhone line-up. Likely to be the iPhone 15 series if the naming sequence continues, we can certainly expect status quo to be maintained in terms of how many phones the new portfolio will have, if not a surprise addition or two. Therefore, the quartet will include successors to the iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max.
While new iPhones are unmistakably exciting, for the India market, there is a strong foundation still being put together. One, where numbers mark a positive trajectory for phones that till not too recently were considered too expensive for the perceived value conscious Indian smartphone buyer. Estimates are bullish about the prospects of the iPhone 15 series too in India.
You wouldn’t expect anything less, in a year which saw Apple CEO Tim Cook launch the tech giant’s first set of exclusive retail stores in India. Apple is also selling more iPhones in India than ever before, and has set about to deliver on the government’s target of 25% of all iPhones in the world to be manufactured in India.
Cyber Media Research, in numbers shared with HT, estimates a 25% year-on-year growth for iPhone 15 shipments, compared with the iPhone 14 series after it was launched in the same quarter last year.
“With the iPhone 15 series, Apple is poised to maintain market momentum. However, this growth hinges on Apple’s ability to effectively manage any potential production challenges, and consequent shipment delays associated with its iPhone 15 line-up, including its ‘Pro’ models,” Prabhu Ram, who heads the Industry Intelligence Group at CyberMedia Research, tells HT.
A lot of this momentum comes from domestic manufacturing, something Apple and its partners Foxconn, Pegatron and Wistron (to be acquired by the Tata Group) have invested in significantly. In 2020, as the push for Make in India initiative gathered pace, Apple manufactured around 1% of all iPhones globally, in India. That number is expected to stabilise at 6% by the end of 2023.
Indians are also spending more on smartphones, something that has helped Apple, alongside Android phone makers such as Samsung and OnePlus, who figure in the flagship phone space. This change in buying trend comes even as the overall market is indicative of sluggish trends.
In Q2 2023, research firm TechInsights indicates Apple saw a 50% increase in shipments year-on-year.
“India became the 5th largest market for Apple in Q2 2023. We expect iPhone average selling price to increase further in Q3 and Q4 2023 driven by iPhone 15 Pro models that are expected to be more expensive than predecessors,” points out Abhilash Kumar, Industry Analyst for Wireless Smartphone Strategies, at TechInsights.
Some of the factors that may make some of the iPhone 15 series phones comparatively more expensive at launch, may include an expected switch to the low-temperature polycrystalline oxide (LTPO) display technology and the use of Titanium in the frame, at least on the ‘Pro’ phones.
According to IDC, or International Data Corporation, 64 million smartphones were shipped in India in the first half of 2023, a decline of 10% compared with H1 2022. Specifically, in Q2 2023, the 34 million smartphones shipped represent a 10% increase over Q1 2023, but that is still decline of 3% compared with Q2 2022.
“Consumers are opting for premium offerings, driven by easy and affordable financing options. We expect this growth momentum to continue in the upcoming months in 2023,” says Upasana Joshi, research manager, Client Devices at IDC India. The average selling price of a smartphone in India is now $241 (around ₹19,930), a 13% increase year-on-year.
Apple’s market share has also increased significantly. At the end of Q2 2023, Apple registered a 61.1% growth year-on-year, which now gives it around 5.5% share of India’s smartphone market. This is also the quarter in which Vivo (16%) overtook Samsung (15.7%) to take the lead of the market share.
“iPhones will garner 7% market share in the Android-dominated India smartphone market in 2023,” predicts CMR’s Prabhu Ram. The pricing of previous generation iPhones once iPhone 15 is released will be crucial. As a trend, significant sales are generated for a generation-older iPhone series. For instance, alongside the iPhone 14 series, some models of iPhone 13, iPhone 12, as well as iPhone SE, continued to remain on sale at more affordable price points.
Business
How Coin Masters is the Best Bookkeeping Service in Ottawa Simplifies Financial Management
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Business
Coin Masters: Sunny Khosla’s Vision for Financial Innovation and Business Growth
In the ever-evolving world of finance, innovation is key to staying ahead of the competition and ensuring long-term business success. Sunny Khosla, already established as a leading CFO, recognized this need and founded Coin Masters—a company dedicated to delivering innovative financial solutions that empower businesses to optimize their strategies, manage cash flow effectively, and achieve sustainable growth. Under Khosla’s visionary leadership, Coin Masters has quickly become a trusted partner for companies looking to navigate the complexities of modern finance.
The Genesis of Coin Masters: Filling a Critical Gap
The idea for Coin Masters emerged from Khosla’s extensive experience in corporate finance. Throughout his career, he encountered numerous businesses struggling with the same core issues: inefficient financial strategies, poor cash flow management, and a lack of long-term planning. Khosla realized that there was a significant gap in the market for a company that could provide comprehensive financial solutions tailored to the unique needs of each business.
With this in mind, Khosla founded Coin Masters, aiming to create a platform that offers businesses the tools and expertise they need to succeed. His vision was to go beyond traditional financial consulting, offering a holistic approach that combines cutting-edge technology, strategic insight, and practical financial management. Coin Masters quickly gained a reputation for its ability to deliver results, helping businesses streamline their operations, reduce costs, and maximize profitability.
Innovative Financial Solutions: Tailored to Business Needs
One of the key differentiators of Coin Masters is its commitment to providing innovative, customized financial solutions. Khosla understands that no two businesses are alike, and a one-size-fits-all approach to finance simply doesn’t work. Coin Masters offers a range of services designed to meet the specific needs of each client, from small startups to large multinational corporations.
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Driving Business Growth Through Strategic Planning
A cornerstone of Khosla’s approach at Coin Masters is his emphasis on strategic planning. He believes that businesses can only achieve sustainable growth if they have a clear, well-thought-out plan in place. Coin Masters helps companies develop comprehensive financial strategies that align with their long-term objectives, ensuring that every decision made is part of a larger, cohesive plan.
One of the key areas where Coin Masters excels is in helping businesses manage their cash flow. Cash flow is the lifeblood of any business, and poor management in this area can lead to significant problems down the line. Coin Masters works with clients to develop cash flow management plans that ensure they always have the liquidity needed to operate smoothly, even during challenging periods.
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Empowering Businesses with Financial Literacy
Beyond providing financial solutions, Khosla is passionate about empowering businesses with the knowledge they need to succeed. He believes that financial literacy is crucial for long-term success and that every business leader should have a solid understanding of their company’s financial health.
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Looking to the Future: Innovation and Growth
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Looking ahead, Khosla is confident that Coin Masters will continue to play a vital role in helping businesses navigate the complexities of modern finance. His unwavering commitment to innovation, combined with his deep understanding of corporate finance, ensures that Coin Masters will remain a trusted partner for businesses seeking to achieve sustainable growth in an increasingly competitive world.
Business
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