Apple Is Not a Factor In the One Place Smartphone Demand Is Still Growing

Apple (NASDAQ: AAPL) is running out of places to sell regularly priced iPhones.

It's not an idea everyone agrees with. Even if the Americas market is nearing plausible saturation, China and the rest of Asia -- India in particular -- still hold lots of growth potential. Indeed, with the first Apple store set to open in India next year, it's clear Apple is ready to act on the opportunity.

It's not a bad bet either, on the surface. Although India became the world's second-biggest smartphone market last year, according to data from Counterpoint Research, the 158 million smartphones sold in India in 2019 is only about 11% of its population of 1.37 billion people. That leaves room for smartphone market growth on the order of 11% to 14% per year for the next few years, depending on the forecaster. And unlike other parts of the world, India's smartphone sales are on a clear growth trajectory.

Source Fool.com