New Delhi . Apple iPhone exports from India have registered a growth of onethird in the six months till September this year. This increase in iPhone exports from the country reflects the country's desire to expand manufacturing and reduce dependence on China.
According to reports, Apple has exported iPhones worth about $6 billion made in India. Which represents a onethird increase in value as compared to last year. This is considered to be a sign of the annual export of iPhone crossing about $ 10 billion in the financial year 2024.
Apple is rapidly expanding its manufacturing network in India. Where the company is taking full advantage of local subsidies, skilled workforce and advancements in India's technology capabilities. Apple's concerns have also increased due to Beijing's tensions with America regarding China. In such a situation, India is very important for Apple to reduce its dependence on China.
Apple's three suppliers in India include Taiwan's Foxconn Technology Group, Pegatron Corp and Tata Electronics. Who assemble iPhones in South India. Foxconn's local unit, located on the outskirts of Chennai, is a top supplier in India. Foxconn's local unit contributes about 50 percent of iPhone exports from India.
According to reports, the electronics manufacturing branch of the giant Tata Group exported iPhones worth about $1.7 billion from its factory in Karnataka state between April and September. Tata had bought this unit from Wistron Corp last year. After this, this unit became the first Indian assembler of Apple's best selling product.
According to Federal Trade Commission data, iPhones account for the majority of India's smartphone exports. India helped this product category become the top exporter of this product category to the US with $2.88 billion in the first five months of this financial year. Five years ago, before Apple had expanded manufacturing in India, the country's annual smartphone exports to the US stood at just $5.2 million.
However, Apple's share in India's smartphone market is still less than 7 percent. Chinese brands like Xiaomi, Oppo and Vivo continue to dominate the Indian smartphone market. Globally, India is still a small market for the iPhone. However, there is always scope for expansion.
Subsidies given by Prime Minister Narendra Modi's administration helped Apple assemble its pricier iPhone 16 Pro and Pro Max models with better cameras and titanium bodies in India this year. The company is also planning to open new retail stores including in Bangalore and the western city of Pune.
Last year, Apple CEO Tim Cook also launched Apple's first retail stores in Mumbai and the capital New Delhi. Which is getting positive response from Indian customers.
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Image Credit: KhasKhabar.