Young man contemplating an iPhone purchase in a retail store
Apple’s growth trajectory in India is projected to flatten this year, with analysts revising their forecasts from double-digit expansion to a more modest flat or low single-digit outlook. This recalibration comes as the tech giant grapples with increased chip costs, which have necessitated price hikes for its popular iPhone models.
The anticipated slowdown is attributed to several factors impacting consumer purchasing decisions. While older generation iPhones are expected to continue driving sales, the festive season may see reduced promotional activities and lower discounts compared to previous years. This, coupled with the removal of no-cost EMI schemes, is likely to deter consumers from upgrading their devices.
Industry watchers suggest that the elevated prices, a direct consequence of rising component costs, will compel consumers to either delay their upgrade cycles or opt for more budget-friendly, older iPhone models. This strategic shift in consumer behavior poses a significant challenge to Apple’s previously robust growth in one of its key emerging markets.
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