With its distribution network on the subcontinent in disarray, the iPhone hits a new low.
From a Counterpoint Market Research press release posted Tuesday:
According to the latest research from Counterpoint’s Market Monitor service, the India smartphone market returned to double digit growth (18%) YoY after flat first quarter growth. The feature phone market continues to outpace the smartphone market with a YoY growth of 21%…
Apple had a slow quarter as it underwent changes in its distribution strategy. Apart from this, its domestic assembling is yet to pick-up pace, which means the Cupertino giant is still relying on imports for its sales in India. Apple had 1% market share during the quarter, its lowest in recent history.
My take: If India is the new China, Tim Cook has some ‘splaining to do.
From Seeking Alpha‘s Q2 2018 earnings call Q&A transcript:
Brian J. White – Monness, Crespi, Hardt & Co., Inc.: Yes, Tim, I think there is China numbers are actually phenomenal in the quarter and third consecutive quarter of growth. I think there’s been a lot of concerns just Apple in China and maybe misinformation out there. But what do you see as the drivers for Apple in both Mainland China and Greater China over the next few years? And also if you could just give us an update on what you’re seeing in India.
Timothy Donald Cook – Apple, Inc.: Yeah, good question. Let me start with India, and then I’ll talk more about China. India, we set a new first-half record. So we continue to put great energy there and try to – our objective over time is to go in there with all of our different initiatives from retail and everything else. And so we’re working toward those things. It’s a huge market and it’s clear that many people will be moving into the middle class over time, as we’ve seen in other countries.