Apple’s iPhone has lost its luster this holiday season. Its sales drop by up to 30 percent around Dussehra. Demand is also expected to remain low on Diwali due to price hikes, fewer discounts and longer replacement cycles.

The slowdown could affect Apple’s growth momentum in the world’s second-largest smartphone market. According to a Money Control report, iPhone shipments in India could see a double-digit decline this year, from a record 14.3 million units in 2025. The decline is likely to intensify in the second half of the year.

Upasana Joshi, an analyst at International Data Corporation (IDC), said in a Money Control report that sales are sluggish as per the feedback from retailers, which is natural considering the price hike and lack of festive offers. We expect festive demand to remain low across the market this year. This slowdown is seen when the company has launched the iPhone 18 Pro series and the new iPhone Duo.

Sanyam Chaurasia, an analyst at Omdia, said in a Money Control report that consumers have now become more cautious due to the increase in prices of older models and the 18 Pro series. Older iPhones are still performing well, which is why people are taking longer to buy a new phone (the replacement cycle has become longer). Apart from this, the pressure has also increased due to shortage of certain models.

The pace of the festive season has also been affected by the non-launch of the new base iPhone 18 in September. Chaurasia said in a media report that the base iPhone 18 is expected to arrive in early 2027, so some demand may shift from Q4 (fourth quarter) to Q1 (first quarter).

Counterpoint Research analyst Shubham Nimkar said in a Money Control report that higher prices are narrowing Apple’s potential customer base, causing people to delay buying the phone. Diwali is a bit late this year, which has shifted some of the festive shopping to October. In such a situation, it is too early to accurately estimate the performance of the entire season.

Financing schemes could encourage purchases, while the 18 Pro series and Duo could attract early adopters of the new models. According to IDC, Apple’s share of India’s smartphone market (by value) was 27 percent in the June quarter, indicating its strong position in the premium segment.

Retailers reported problems with inventory accumulation

Retailers say that around Dussehra sales drop by up to 30 percent. The main reasons behind this are consumer caution, high prices and low promotional offers. Demand for older models like the iPhone 15, 16 and 17 series has declined due to rising prices and the discontinuation of some credit and discount schemes. Retailers and distributors stocked up a lot in the hope of good sales during the festive season, but due to slow sales, they now have a lot of stock left (inventory).

Currency fluctuations and import-related challenges have also added to the pressure. Some traders do not sell their stocks to avoid losses because they bought them at a time when the exchange rates were not in their favor. However, retailers believe low consumer demand is the biggest concern. In contrast, the 18 Pro and Pro Max models are seeing a shortage in supply.

The All India Mobile Retailers Association (AIMRA), which represents over 1.5 lakh mobile retailers, said in a Money Control report that demo units of the iPhone Duo had reached retail outlets, but despite high interest on the day of launch, the stock available for sale was very low.

AIMRA says this shortage led to ‘grey-market’ stock entering India from Dubai, causing losses to authorized retailers. The association also alleged that distributors are forcing retailers to buy older iPhone models to get the newly launched devices. He has demanded that Apple India conduct a ‘mystery audit’ (secret investigation) in this matter.

iPhone Duo: Short Supply, Concerns About Display

Retailers estimate that only 6,000-7,000 Duo units were initially made available for sale. Some retailers said they expected to get 100 units, but got only 5 to 7 units. While customers can get this device by paying Rs. 25,000 to Rs. Were willing to pay an additional premium of up to 1 lakh.

iPhone Duo starts at Rs 2,99,900 in India, while in the US it costs $1,999 before tax. Retailers say such a huge price difference could encourage ‘parallel imports’ (unauthorized imports). However, there is no official statement from Apple in this matter.

Some customers around the world have complained that the Duo’s internal screen is cracking. Apple has acknowledged that some units have internal performance issues. The company advised customers to contact AppleCare for a replacement.

According to retailers, no such problem has come up in India so far. However, due to the small number of devices available in the country, it is possible that no cases are reported. So, it is too early to say whether Indian units are also affected by this or not.