Government sources say the iPhone maker wants to five-fold output in India to over USD 40 billion (approximately 3.32 lakh crore) in four to five years. The anonymous official said the company produced almost USD 7 billion in the most recent fiscal year.
The source said, “Apple plans to increase India production to $40 billion in 4-5 years. Recent fiscal year, it crossed USD 7 billion.”
Apple will make Airpods early next year in India, where it makes iPhones.
According to the insider, Apple does not plan to manufacture laptops or iPads in India. “They won’t join the IT hardware PLI. The officer said they may arrive later, but for now, they’re boosting output.
The company sold iPhones for USD 191 billion and wearable, home, and accessories for USD 38.36 billion in the fiscal year ending September 25, 2022. The first nine months of the current fiscal saw iPhone sales fall 4% to USD 156.77 billion while wearable, home, and accessories sales fall slightly to USD 30.52 billion. The firm exports the most mobile phones in India.
Industry insiders say Apple’s iPhone 15 series sold 100% more than the iPhone 14 series on Friday. Apple released four iPhone 15 models. India produces two iPhone 15 and 15 Plus versions.
The company started selling “made in India” iPhones the same day it started selling outside. Apple has 59% market share in ultra-premium phones over Rs 45,000 in Q1 2023. India ranks among the company’s top five markets.
Conclusion:-
Apple aims to five-fold iPhone production in India to over USD 40 billion in four to five years. In its latest fiscal year, production exceeded USD 7 billion. Apple will make Airpods early next year in India, where it makes iPhones. Apple will not make laptops or iPads in India, but they will increase output. The business sold iPhones for USD 191 billion and wearable, home, and accessories for USD 38.36 billion in the fiscal year ending September 25, 2022. The firm is India’s leading mobile phone exporter. Sales of the iPhone 15 series increased 100% over the iPhone 14 series. Apple owned 59% of the ultra-premium market in Q1 2023, encompassing phones over Rs 45,000.
