Thursday, July 18, 2024
HomeDECOUPLING FROM CHINADecoupling From China! Apple Exports ‘Made-in-India’ iPhones Valued At $2 Billion In...

Decoupling From China! Apple Exports ‘Made-in-India’ iPhones Valued At $2 Billion In Just Two Months!

In the initial months of the 2024-25 financial year, Apple has exported iPhones worth nearly $2 billion, with its suppliers, including Foxconn, fortifying their supply chains. According to industry data, this constitutes over 80% of the total production or assembly of iPhones in the country. Reports indicate that Apple achieved a record first-quarter shipment in India, witnessing a 19% year-on-year growth.

Last year, Apple dispatched around 10 million iPhones in India, capturing 7% of the market share. Over recent years, iPhone production in India has surged, with one in every seven iPhones globally now being manufactured there. Apple aims to escalate its Indian manufacturing to constitute 25% of its iPhone production by 2028.

Apple commenced iPhone production in India back in 2017, with Foxconn initiating assembly operations for the iPhone SE in Sriperumbudur, near Chennai. Subsequently, all the latest iPhone models were labeled ‘Made-in-India’ and even exported by Apple’s three contract partners — Foxconn, Wistron, and Pegatron. Last October, Tata Group acquired the Wistron facility for $125 million. Since then, Apple has been fostering its ecosystem by establishing a network of local vendors, reducing its reliance on China.

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