iPhone production in India doubled in 12-months
India is buoyant with ideas: Muralist and illustrator Sadhna Prasad is using Procreate and Procreate Dreams on iPad Pro to create a large-scale mural called I’ll Be Back (போயிடு வரேன்).
iPhone production is rapidly scaling up in India and the company exported double the number of its smartphones as it did the year before.
That’s a lot of iPhones
Apple exported in the region of $10 billion in value of India-mase iPhones across the last 12-months and the trajectory is increasing. By 2026, one in four iPhones sold worldwide will be made in India. It’s important to note that the retail value of these exported phones is approximately 60% higher.
The data confirms India’s place as a key player in the company supply chain, with around 14%-15% of production already taking place there, reports claim. This also means Apple is rapidly becoming India’s fastest growing exporter, with manufacturing taking place at Foxconn, Pegatron, and India’s Tata Group via manufacturing centers it recently acquired from Wistron.
Foxconn leads in production, accounting for c.70% of iPhones made. Wistron makes around 27% and Pegatron the rest. Pegatron is currently in discussion with Tata to sell the company a majority stake in its iPhone manufacturing in India.
Apple to benefit from India’s PLI scheme
The data has been revealed under India’s PLI scheme (Production Linked Incentive scheme). The PLI is run by India’s government with the intention of attracting major technology firms to set up shop in India, it rewards manufacturers who meet certain targets, which Apple quite clearly has. The scheme seems to to be working, India’s electronics exports have increased by 23.6% in. the last year, with iPhones making the biggest dent in that growth.
Apple is also growing in India. It achieved 38% growth there in the last year and is pursuing double-digit growth in iPhone adoption in India. Apple also employs in the region of 150,000 people across its manufacturing partners. An estimated million developers there work in its iOS ecosystem, reports have claimed.
Retail partnerships to grow consumer sales
The company is also pursuing some of its tried and tested approaches to getting its products into retailers across the nation. To achieve this, it has inked partnerships with big retailers there and offers good profit margins and other incentives to nurture stronger sales.
Apple is benefiting from these efforts. Its revenue is expected to rise 20% in FY25, after having grown by about 70% in FY24. The company also recently announced “a record March quarter for iPhones,” in India. It experienced “double digit” growth.
“I see India as an incredibly exciting market, and it’s a major focus for us. In terms of the operational side or the supply-chain side, we are producing there – from a pragmatic point of view, you need to produce there to be competitive,” said Apple CEO Tim Cook during the company’s March 2024 financial quarter announcement.
India will be Apple’s third biggest market
Apple has other opportunities too. Doctors in India have already begun exploring how to make use of its Vision Pro device and surgeons there recently conducted 30 keyhole surgeries using the device.
As these cards fall, India is expected to become Apple’s third largest market within the next two or three years, joining China and the US in the top three.
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