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In the six months between April and September, India has exported ‘Made in India’ iPhones worth $6 billion (about Rs 50,454 crore). This is almost a third (33%) more than the same period last year.
It is expected to reach $10 billion (Rs 84,086 crore) by the completion of the current financial year (2024-25). Bloomberg has given this information quoting sources.
Apple wants to reduce dependency on China
Apple is trying to reduce its dependence on China due to tensions between China and America. For this, Apple is rapidly expanding its manufacturing network in India. In this, local subsidy, skilled workforce and technological capabilities of the country are helping Apple a lot.
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 South India. In this, the local unit of Foxconn is the largest supplier of iPhone in India. Apart from this, the company contributes half of the iPhone exports from India.
Tata company exported iPhones worth ₹14,292 crore
Between April and September, Tata Group company Tata Electronics exported iPhones worth about $ 1.7 billion (Rs 14,292 crore) from its factory in Karnataka. Tata had bought this unit from Wistron Corp last year. It is the first Indian assembler of Apple’s best-selling products.
Apple has shipped 10 million units for the first time
According to market research firm Counterpoint Research, Apple has achieved the top position in terms of revenue generation in India for the first time in 2023. However, Samsung remains ahead in terms of sales.
Counterpoint reported that Apple crossed the 10 million unit mark in shipments for the first time last year. According to trade intelligence platform The Trade Vision, Apple’s iPhone exports from India are set to increase from US$6.27 billion in 2022-23 to US$12.1 billion in 2023-24, showing a massive growth of nearly 100%.
