Apple(US:AAPL) Counterpoint Research·2025-08-07 01:03Core Insights - The Indian smartphone market experienced a robust rebound in Q2 2025, with shipments and wholesale value increasing by 8% and 18% year-on-year, respectively, driven by a 33% increase in new product launches and effective marketing strategies during the summer promotional period [4][5][8]. Market Dynamics - The recovery of the Indian smartphone market in Q2 2025 was further supported by an improved macroeconomic environment, which boosted consumer confidence and spending. Retail inflation fell to a six-year low, easing household budget pressures, while a reduction in the central bank's repo rate made financing more accessible. Additionally, tax relief policies introduced earlier in the year increased disposable income and savings, creating favorable conditions for non-essential purchases [5][8]. - The ultra-premium segment (priced above 45,000 INR, approximately 510 USD) saw a remarkable year-on-year growth of 37%, making it the fastest-growing price segment. This growth was fueled by promotional strategies from brands like Apple and Samsung, which included trade-in offers and zero-interest installment plans [5][8]. Competitive Landscape - In Q2 2025, OEMs and channel partners conducted numerous online and offline promotional activities, helping some OEMs clear existing inventory and launch new products. Vivo achieved a 23% year-on-year growth in the 10,000-15,000 INR (approximately 110-170 USD) price range, driven by strong demand for its Y and T series [8][9]. - Samsung maintained its position as the second-largest brand, benefiting from summer promotions for its A and S series, as well as attention garnered from its N-1 flagship model upgrades. OPPO also performed well, securing the third position through product optimization and enhanced retail partnerships [9][14]. Key Brands and Performance - iPhone 16 emerged as the best-selling model in Q2 2025, highlighting strong consumer demand. Apple achieved its highest-ever second-quarter shipments in India, supported by ongoing promotional offers and flexible financing options [8][14]. - Nothing brand recorded a remarkable 146% year-on-year growth, becoming the fastest-growing brand for six consecutive quarters, primarily due to the launch of CMF Phone 2 Pro and expansion of its retail network [14]. - Motorola's G and Edge series saw an 86% year-on-year increase in shipments, aided by expanded distribution channels in smaller cities [14]. - Lava became the fastest-growing brand in the sub-10,000 INR (approximately 110 USD) segment, achieving a 156% year-on-year growth driven by competitive new products and improved after-sales service [14]. Market Projections - The Indian smartphone market is expected to surpass 50 billion USD in 2025, while global smartphone manufacturing is projected to see a slight decline, with Indian manufacturing anticipated to grow against this trend [15].