Apple price hikes may flatten India iPhone growth; analysts cut forecast from double-digit to flat

New Delhi: Apple’s plan to increase product prices due to rising memory chip costs may affect its growth trajectory in the Indian market, according to market analysts.

They said the Indian market is likely to see a more significant impact due to currency depreciation and ongoing global cost pressures. As a result, analysts now predict either flat or low single-digit growth for iPhone shipments in the country this year, a downgrade from earlier expectations of double-digit growth in volume.