New Delhi
Apple is reportedly targeting the production of more than 50 million iPhones per year in India, marking a significant shift away from China. The tech giant aims to achieve this ambitious target within the next two to three years, with plans for additional tens of millions of units thereafter, according to sources close to the matter as reported by the Wall Street Journal. If Apple successfully meets this goal, India would contribute to a quarter of the global iPhone production, while China would remain the largest iPhone producer. Apple is facing challenges in relocating its production away from China. Key supplier Foxconn is planning to establish more factories in India, and Tata Group is reportedly gearing up to build one of the country’s largest iPhone assembly plants. In the April-August period of the current fiscal year (FY24), India witnessed mobile phone exports amounting to $5.5 billion (over Rs 45,000 crore), according to government and industry data. Estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA) indicate a significant increase from $3 billion (about Rs 25,000 crore) in the same period in FY22-23. During the April-August period, Apple emerged as the leader in India-made phone exports, surpassing 50% of the total estimated figure for the first time, followed by Samsung. In the June quarter, Apple accounted for nearly 50% of the country’s total 12 million smartphone shipments, outpacing Samsung’s 45% share in exports. The current fiscal year is expected to witness India crossing Rs 1,20,000 crore in mobile phone exports, with Apple holding a market-leading position of more than 50% in FY24.
