Apple Inc (NASDAQ: AAPL) has become one of history’s most successful companies through its expertise in conquering new markets and it seems that the company is on its way to finally turn around its fortunes in India.
Apple had entered the market back in 2008 but had remained a minor player in one of the world’s biggest smartphone markets. A report from a third party has revealed that the American tech giant managed to boost its market share in the smartphone market in India by as high as 100%.
In Q4 2020, Apple had a market share of 4% in the Indian smartphone market has shipped as many as 1.5 million iPhones. In this regard, it is also necessary to note that the company managed to stage this turnaround at a time when the coronavirus pandemic had ravaged the country and poverty had actually gone up. While people lost their jobs and salaries were cut, Apple still managed to boost its sales.