Apple Surprisingly Strikes Gold in This Price-Sensitive Market
The Indian smartphone market felt the effect of the novel coronavirus pandemic in the second quarter of 2020, with shipments cut in half year over year, according to IDC's estimates. Just 18.2 million smartphones were shipped in India for the three months ending in June, compared to 36.8 million units in the prior-year period, as a strict lockdown brought economic activity to a halt.
Almost all major smartphone manufacturers saw huge dips in sales, but surprisingly, Apple (NASDAQ: AAPL) held its ground. According to a report by Indian financial daily newspaper Mint, Apple's second-quarter shipments in India increased 5% year over year during the quarter. Citing a source familiar with Apple's numbers, the Mint report pointed out that the recently launched iPhone SE, the iPhone XR, and the iPhone 11 drove the company's sales during the quarter.
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Source Fool.com
