India is likely to meet all requirements for mobile phones through domestic production by the end of financial year 2024/25.
Apple recently began local production of its iPhone Pro and Pro Max models, and Alphabet’s Google has also started local production of its Pixel phones.
The proliferation of local manufacturing, including for premium mobile phones, has significantly reduced the need for imports. economic times This was reported as a story from a person involved.
“Apple’s announcement to produce the iPhone 16 Pro and Pro Max models in India marks the final step to mark the success of the Smartphone Production-Linked Incentive (PLI) scheme,” one of the people said. That’s what it means. E.T..
Until FY24, imports accounted for around 3% of smartphones sold in India by value, mostly iPhone Pro models and Google Pixel devices.
Samsung, on the other hand, already manufactures all its products domestically.
Officials quoted in the article E.T. According to the report, 99 per cent of mobile phones in terms of volume are manufactured domestically and the remaining 1 per cent will soon be filled by domestic suppliers.
In order to curb the gray market of high-end smartphones, the government lowered import duties in the fiscal year 2025 budget.
Following this, Apple reduced iPhone prices by 3-4% across its India portfolio, transferring tax savings to consumers, while announcing local production of iPhone Pro and Pro Max models.
This is the first global example of Apple lowering the price of its Pro models, a notable move since the company generally tends to keep prices stable.
India’s smartphone market was valued at $33 billion in FY23, with imports accounting for $1.4 billion or 4.2%.
By FY24, sales had increased to $37 billion, but imports had declined to $930 million (2.5%).
In terms of volume, imports account for less than 1%.
In addition to Apple, Google, and Samsung, Chinese manufacturers such as Oppo, Vivo, Xiaomi, Realme, and Transsion, as well as Indian brands such as Lava and Micromax, also produce smartphones locally.
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