Apple Exports $2 Bn Worth Of iPhones From India In Just Two Months
Key Apple suppliers, particularly Foxconn, have bolstered their supply chains, contributing to this export success
Apple has exported iPhones worth over Rs 16,500 crore (approximately USD 2 billion) in the first two months of the current financial year, buoyed by the Indian government’s Production-Linked Incentive (PLI) scheme.
This export volume constitutes more than 80 per cent of the total iPhone production and assembly in India during this period.
Key Apple suppliers, particularly Foxconn, have bolstered their supply chains, contributing to this export success. Foxconn alone accounts for about 65 per cent of the total iPhone exports from India.
In the previous financial year, Apple produced iPhones valued at approximately USD 14 billion (over Rs 1 lakh crore) in India, with the market value of these devices estimated at nearly USD 22 billion.
India has emerged as the second-largest mobile phone manufacturer in the world, with plans to produce 25 per cent of all iPhones by 2028.
Apple recorded a significant 19 per cent year-on-year growth in first-quarter shipments in India, shipping around 10 million iPhones last year and securing a 7 per cent market share.
In addition to boosting exports, Apple is seemingly deepening its local ecosystem by building a network of local vendors, thereby reducing its reliance on China. This move has created substantial employment opportunities in the country, with more than 1.5 lakh people employed within the Apple ecosystem to date.
