Apple has reported a significant increase in pre-orders for its ‘Make in India’ iPhone 16, with the new lineup set to launch on September 20. Trade analysts indicate that the latest devices are poised to break previous export records.
Ongoing assessments reveal that the iPhone 16 Pro models are gaining strong traction among buyers, thanks to their strategic and accessible pricing compared to the iPhone 15 series. The new iPhones will be available at Apple’s retail and online stores, including Apple BKC in Mumbai and Apple Saket in New Delhi, as well as through authorized sellers from September 20.
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Counterpoint Research Director Tarun Pathak noted a robust pre-order demand for the base iPhone 16 model compared to last year, highlighting that attractive financing options could drive the new series to surpass previous sales records. He emphasized that this year, Apple is likely to see a healthy mix of upgrades as a result of the government’s push for local manufacturing.
Prabhu Ram, Vice President of Industry Research Group at CyberMedia Research (CMR), stated that Apple is benefiting from the premiumization trend in the Indian smartphone market. He also anticipates that the older iPhone 14 and 13 models will see increased interest during the festive season.
Indian factories are producing and launching the iPhone 16 globally, bolstered by the production-linked incentive (PLI) scheme. In the first five months of the current fiscal year (FY25), Apple achieved approximately $5 billion in iPhone exports from India, marking a growth of over 50% from the same period in FY24.
Indian factories are producing and launching the iPhone 16 globally, bolstered by the production-linked incentive (PLI) scheme. Industry analyst Ming-Chi Kuo estimates that first-weekend pre-order sales of the iPhone 16 series could reach around 37 million units globally.
Looking ahead, analysts project that Apple’s revenues in India will grow by 18% year-on-year in 2024, driven by the new iPhone 16 series, which is likely to enhance the company’s market presence and boost export figures. Currently, Apple holds a 6% share by volume and a 16% share by value in the Indian market. Analysts expect this double-digit growth to continue, with revenues anticipated to surpass the $10 billion mark in 2025.
Production of iPhones in India has increased from less than 1% in 2017 to 10% in 2023, with plans to expand this to 25% of global shipments by 2025, according to global investment firm Jefferies.
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