India is now one of Apple's top 5 iPhone markets for the first time

India became Apple's 5th largest iPhone marketplace successful the 2nd quarter, according to probe released Tuesday, arsenic the U.S. exertion elephantine ramps up organisation and selling successful what CEO Tim Cook sees arsenic a captious aboriginal market.

For Apple, India overtook Germany and France for iPhone income successful the June quarter, and is present down the U.K., Japan, China and the U.S., Counterpoint Research told CNBC connected Tuesday. It is the archetypal clip India has been 1 of Apple's apical 5 markets for iPhone sales.

India contributed adjacent to 4% of each iPhone income successful the 2nd quarter, according to the probe firm. The steadfast was not capable to disclose the nonstop fig of iPhone income but said they grew 50% year-on-year.

Apple commanded a 5.1% marketplace stock successful India's full smartphone marketplace successful the play to the extremity of June, versus 3.4% successful the aforesaid play past year, Counterpoint Research said.

The accelerated maturation successful India comes arsenic Apple ramps up its beingness successful the world's fifth-largest system from some a retail and manufacturing perspective.

In April, Apple opened its archetypal carnal stores successful the country successful the superior of Delhi and the populous metropolis of Mumbai.

Apple has besides shifted immoderate iPhone manufacturing to India arsenic it looks to diversify distant from China, wherever the bulk of its flagship smartphone is presently produced.

India's smartphone marketplace is dominated by low-cost Android smartphones made by Chinese players similar Xiaomi arsenic good arsenic Apple's arch rival Samsung. However, determination has been a maturation successful the premium smartphone segment. Smartphones priced supra $400 present relationship for 10% of the full volumes of handsets shipped versus 4% earlier the Covid-19 pandemic, according to Counterpoint Research.

Apple's maturation communicative successful India has been a operation of the company's "overall strategy focusing connected organisation and affordability," Ankit Malhotra, elder probe expert astatine Counterpoint Research, told CNBC via email.

"The archetypal industry-wide origin is the maturation successful the premium marketplace successful India which Apple has taken vantage of."

Analysts are excited astir the prospects of India for Apple. Morgan Stanley said successful a enactment Monday that Apple could relationship for 15% of Apple's gross maturation implicit the adjacent 5 years. Analysts astatine the concern slope forecast gross maturation implicit past adjacent 10 years successful India to basal astatine $40 billion.