Apple leads the premium and ultra premium market segments; In the third quarter of 2021, growth was 212% compared to the same period last year.

Apple today announced financial results for the fourth fiscal quarter of 2021, which corresponds to the third calendar quarter of 2021. The company recorded $83.4 billion in revenue during the quarter with a net quarterly income of $20.6 billion. For comparison, in the same quarter last year, the company’s revenue was $64.7 billion and net income was $12.7 billion. CEO Tim Cook announced that Apple doubled its business in the quarter. According to a Counterpoint report, the Cupertino-based American tech giant was the most popular brand in the premium and ultra-premium segments.

Apple dominates India’s premium smartphone segment

Apple posted 212% growth in the third quarter of 2021. With such significant growth, the American tech giant continues to maintain leadership in the premium smartphone segment (over $400) with a market share of 44%. In the ultra premium smartphone segment (over $605), Apple dominated the segment with a 74% market share.

Counterpoint believes that strong demand for the iPhone 12 and iPhone 11 series has helped Apple maintain a solid lead in the premium smartphone market. The company is also a leading 5G smartphone brand. The new iPhone 13 series is expected to help Apple maintain its lead in two premium segments. Apple’s latest flagship iPhone models come with bigger batteries, better cameras, and a 120Hz refresh rate display on the Pro models. These models cost the same as last year’s iPhone 12 series and start at $940.

That being said, the ongoing Flipkart Big Diwali and Amazon Great Indian Festival sales have also helped Apple sell its older iPhone models. The iPhone 12 series, which includes the iPhone 12 mini and the vanilla iPhone 12, were the top-selling smartphones during the sale. Apple has sold over 2,000 units of the iPhone 12 series during the Flipkart sale. On Amazon, the iPhone 11 could be bought for about $497.

Xiaomi is still in the lead with a total market share of 22 percent. In second place is Apple’s main rival, Samsung, with a 19 percent market share. Vivo was third with a 15 percent market share, while Realme trailed by a percentage in the third quarter. Oppo has managed to maintain its position in the top five smartphone brands with a 10 percent market share.