iPhone sales in India start to fall

While iPhone sales got off to a great start when the device was released in India this past November sales have cooled in the last few months. A new report from the Times of India shows that in the last quarter of 2012 Apple sold 230,000 iPhones in the country; by the end of the first quarter of 2013 that number had dropped to 120,000. Apple's market share in the country has fallen from 4.7 percent to 2.1 percent.

This sales drop comes despite Apple's increased advertising and promotions in the region, including discounts and monthly payment plans. Analysts point to the lack of new Apple products hitting the shelves as the reason keeping the company from sustaining their initial buzz. Meanwhile Samsung, Apple's main rival, has met each discount and sale with their own incentives.

It will be interesting to see if the release of iOS 7 or the possible announcement of new hardware later in the year will help Apple regain the marketshare they've lost in the last year. India is currently the third largest cellphone market in the world.