In the six months between April and September, India exported $6 billion (roughly Rs 50,454 crore) worth of 'Made in India' iPhones. This is one-third (33%) more than the same period last year.
By the end of the current financial year (2024-25), the export figure could touch $10 billion (roughly Rs. 84,086 crore). Bloomberg has given this information citing sources.
Apple wants to reduce dependence on China
iPhone maker Apple is trying to reduce its reliance on China due to tensions between the US and China. For this the company is rapidly expanding its manufacturing network in India.
Local subsidies, skilled workforce and India's technological prowess are helping Apple a lot in this.
Foxconn is the largest supplier of Apple smartphones
Three of Apple's suppliers—Taiwan's Foxconn Technology Group and Pegatron Corp and India's Tata Electronics—assemble iPhone sets in southern India.
Among these, Foxconn's local unit is the largest supplier of iPhones in India. Apart from this, the company's contribution to iPhone exports from India is almost half.
Tata Company exported iPhones worth ₹14,292 crore
Between April and September, Tata Group company Tata Electronics exported about $1.7 billion (Rs 14,292 crore) worth of iPhones from its factory in Karnataka. Tata bought the unit from Wistron Corp last year. It is the first Indian assembler of Apple's best-selling product.
iPhones are being manufactured in India since 2017
Apple started manufacturing iPhones in India in 2017 with the iPhone SE. It has three Electronics Manufacturing Services (EMS) partners – Foxconn, Wistron and Pegatron.
Apple shipped 10 million units for the first time
According to market research firm Counterpoint Research, Apple has achieved the top spot in terms of revenue generation in India for the first time in 2023. However, Samsung is ahead in terms of sales.
Counterpoint reported that Apple last year surpassed the 10 million unit mark in shipments for the first time. According to trade intelligence platform The Trade Vision, Apple's iPhone exports from India are set to grow from US$6.27 billion in 2022-23 to US$12.1 billion in 2023-24, marking a massive growth of nearly 100%.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
