iPhone Production in India may increase by 4-5 times in the upcoming 5 years
According to government sources, the manufacturer of the iPhone has ambitions to increase production in India by more than five times to reach $40 billion (about 3.32 lakh crore) in the following four to five years.
The official, who wished to remain unnamed, said that the business exceeded $7 billion in production during the most recent fiscal year.
In the following four to five years, Apple intends to boost production in India to more than $40 billion. According to the source, it exceeded $7 billion in the previous fiscal year.
Apple produces iPhones in India and intends to begin producing Airpods early in the next year. According to the official, Apple does not currently have any intentions to manufacture its laptops or iPads in India.
They don't intend to take part in the PLI for IT hardware. They might arrive later, but for the time being, the officer stated, they are focused on scaling up current production levels. In the fiscal year that concluded on September 25, 2022, the business sold iPhones worth $191 billion globally as well as goods worth $38.36 billion in the wearable, home, and accessories segments.
The corporation saw a roughly 4% reduction in iPhone sales in its initial nine months of the current fiscal, totaling $156.77 billion, and a minor decline in the wearable, home, and accessories segment, totaling $30.52 billion. The business has grown to be India's top exporter of mobile phones.
Industry sources claim that on the day of its launch on Friday, sales of Apple's iPhone 15 series increased by 100% over those of the iPhone 14 series. The iPhone 15 series has four models that Apple has released. Additionally, India produces the iPhone 15 and iPhone 15 Plus in two variations.
On the same day that it began selling the handsets in other areas of the world, the company for the first time made the "made in India" iPhones available. In the first quarter of 2023, Apple had a 59% market share in the ultra-premium class, which includes phones costing more than Rs 45,000 each. India is currently one of the company's top-five markets worldwide.
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