In December of last year, Apple became the first company to export smartphones worth $1 billion (about Rs 8,100 crore) or more from India in a single month. The Cupertino tech company reportedly delivered out iPhones worth $1 billion in just December, according to an ET report. In November, Apple had already surpassed Samsung as the top exporter of smartphones out of India.
Apple’s increasing export valuation in India is consistent with the country’s expanding electronics exports, which increased by over 51% year over year (YoY) in the final three quarters of 2022. It is important to note that the export results were impacted by the fact that Samsung’s main production facility in India had to be shut down for 10 to 15 days for routine maintenance last quarter.
The iPhone 12, iPhone 13, iPhone 14, and iPhone 14 Plus are now manufactured in India by Apple’s three contract manufacturers, Foxconn, Pegatron, and Wistron. Additionally, a few smaller manufacturers also export iPhones from India. While Wistron has a facility in Karnataka, Foxconn, Pegatron, and other companies have their headquarters in Tamil Nadu. According to the ET article, the companies are anticipated to help India reach its goal of exporting $9 billion worth of mobile phones in FY23.
Apple’s increasing export figures coincide with an expansion of the market for the corporation in India. One of the most popular cellphones in India in October was the Apple iPhone 13. Despite a period of degrowth in the country, the company has continued to experience continuous growth, helped by holiday season sales.
In terms of exports, Apple reported that it exported iPhones worth $1 billion while overall electronics exports reached $16.69 billion, up 51.56% from $10.99 billion for the same period last year. The electronics industry stands out as the export economy of India, which experienced a 12.2% fall in merchandise exports in December 2022.
In order to focus on expanding operations outside of China, Apple sees India as a wonderful manufacturing prospect. The Cupertino company intends to increase the iPhone 15’s production rate in India, according to earlier reports. An established Apple analyst claims that manufacture of the iPhone 14 began simultaneously in China and India.