Despite a starting price of Rs 1,64,900, demand for Apple's newly launched iPhone 18 Pro series is experiencing an unexpected surge across India. Initial market data indicates that Indian consumers are largely unfazed by the premium cost, with sales figures significantly exceeding expectations.
Strong Sales Defy Price Expectations
The iPhone 18 Pro series, which went on sale in India on September 18, has seen robust adoption. Contrary to predictions that higher price tags might dampen sales compared to the previous year, on-the-ground reports and market research firm Counterpoint Research indicate the opposite. Early sales figures for Apple's flagship devices have climbed by up to 28% year-on-year, demonstrating a strong appetite for premium smartphones among Indian buyers.
Brand Loyalty Fuels Premium Demand
The primary driver behind this surge is Apple's dedicated customer base, particularly in urban centers. Enthusiasts are keen to acquire the latest hardware immediately upon launch, irrespective of the cost. Tarun Pathak, Research Director at Counterpoint Research, noted the significant initial uptick across retail channels. "Demand is up in double digits, from 15-28%. This is due to early upgrade enthusiasts who are loyalists and have been waiting to upgrade to the Pro series," Pathak told Business Today.
Financing Options Support High-End Purchases
The resilience of demand, especially as India approaches its festive shopping season, is heavily bolstered by accessible financing and EMI (Equated Monthly Installment) schemes. While specific financing data for the iPhone 18 Pro launch is still being compiled, market trends consistently show that a substantial majority of Indian consumers rely on consumer loans for iPhone purchases. Counterpoint Research's data indicates that approximately 66% of Apple sales in India are EMI-based.
Pathak further explained that for the Pro models, higher prices are not significantly impacting sales due to the inelastic nature of Apple iPhone demand, a trend supported by their consumer research. However, he suggested that for other models, increased prices might potentially lead to a rise in the grey market.
Consumer Preferences: Burgundy and Higher Storage
Early buyer preferences reveal a clear trend towards specific configurations. Apple's new hero color, Burgundy, has quickly become the most sought-after choice among early adopters. Additionally, there's a strong demand for higher storage tiers, indicating a broader shift in Indian consumer behavior where buyers of premium smartphones increasingly opt for top-spec variants, viewing larger storage as a long-term investment.
This sustained enthusiasm, underpinned by strong brand loyalty and flexible payment solutions, confirms that for Apple's top-tier iPhone series, elevated prices are proving to be no deterrent for the Indian market.