Apple is now India’s first smartphone manufacturer to export $1 billion in a single month. The accomplishment took place in December.
According to the research, global smartphone exports also exceeded Rs 10,000 crore. The unprecedented growth in smartphone shipments in December, driven by Apple, is also a sign of how swiftly the US tech giant is moving its headquarters to India from China as the country faces economic uncertainty.
The iPhone 11, 12, 13, and 14 models are produced by Apple in India. The iPhone 14’s most recent version began to be distributed a few months ago. There are factories in Tamil Nadu and Karnataka for the three manufacturers, Foxconn, Pegatron, and Wistron. They are the recipients of the government’s smartphone PLI program.
India is expected to export mobile phones worth approximately $9 billion in FY23, up from $5.8 billion the year before, according to the government’s forecasts.
The initial clearance that the Indian government gave to about 14 of Apple’s Chinese suppliers will help to strengthen the ecosystem there. This is a significant victory for the US IT giant as it quickly increases its presence in India.
Luke Lin, an analyst at the research unit of Taiwan’s DigiTimes newspaper in the South China Morning Post, said that India may create one in every two iPhones sold worldwide by 2027, up from the country’s present rate of less than five percent. The projection is more assertive than JPMorgan’s earlier forecast that India would produce 25% of all Apple iPhones produced globally by 2025.
