iPhone shipments top 10-mn mark
Financial Express Mumbai|February 01, 2024
EVEN AS THE overall smartphone market growth was flat in 2023, Apple's iPhone shipments to retail outlets or carriers during the year crossed 10 million units, data from Counterpoint Research showed on Wednesday.
JATIN GROVER

With record shipments, Apple also captured the top position in revenue for the first time ever in a calendar year.

The reason for the same can be attributed to robust demand for both the latest and older iPhones, given that the market is also moving towards premiumisation, analysts said.

"The opening of own retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments.

Besides, higher trade-in values presented an appealing proposition for consumers to transition to iOS," said Shubham Singh, research analyst at Counterpoint.

Trade-in options are given by companies to users to purchase a new device at discounted rates by trading in their old devices across multiple brands.

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