Apple’s iPhone exports from India reached nearly $6 billion in the six months to September, an increase of 33% compared to the same period last year, the company said. bloomberg. This growth puts Apple on track to exceed its 2024 export goal of $10 billion from the region.
The increase in exports is a result of Apple expanding its manufacturing network in India, where the company has benefited from local subsidies, skilled labor and improved technology infrastructure. Apple’s three main iPhone suppliers in the country are Foxconn, Pegatron, and Tata Electronics.
Foxconn’s Chennai-based unit leads production and accounts for half of India’s iPhone exports. Tata Electronics, which acquired Wistron’s manufacturing facilities last year, exported about $1.7 billion worth of iPhones from its Karnataka factory between April and September.
According to the report, growth in iPhone manufacturing is having a significant impact on India’s export economy. Smartphones have become the largest export to the US, reaching $2.88 billion in the first five months of the fiscal year, up from just $5.2 million in annual smartphone exports to the US five years ago. has increased dramatically.
Since then, Apple has deepened its manufacturing efforts in India, producing iPhone 15 Pro models in India. Apple also expanded its retail presence by opening stores in Mumbai and New Delhi, contributing to a record $8 billion in annual sales in India through March.
Apple’s manufacturing expansion in India underscores the company’s strategy to diversify its supply chain and reduce dependence on China, where geopolitical tensions with the United States and economic challenges remain. However, China remains Apple’s main manufacturing hub, and the company has also significantly expanded its research and development capabilities in the world’s largest smartphone market.
