India currently remains the most profitable market for Apple, where iPhone sales are continuously falling in China. On the contrary, iPhone sales are increasing in India. This is the reason why Apple is producing more number of iPhones in India instead of China and is creating new records every day. According to the latest report, in the year 2024, Apple has crossed the figure of Rs 1 lakh crore iPhone exports in India. Due to this, iPhone shipment has increased to 12.8 billion dollars i.e. about Rs 1.08 lakh crore. In this, a growth of 4 percent has been recorded as compared to last year.
15 to 20 percent increase in domestic production
Local production in India has increased rapidly in the last few years, increasing from 15 to 20 percent. There has been an increase of about 46 percent in domestic production in one year. Earlier, Apple has exported iPhones worth $9 billion from India. According to the government report, the reason for the increase in iPhone production is the Government Production Linked Initiative i.e. PLI Scheme.
China’s troubles may increase
China is the biggest hub of Apple iPhone production. However, there is a continuous decline in iPhone sales in China. Also, due to the ongoing conflict between China and America, Apple is shifting business to India. If this trend continues, there could be a huge decline in iPhone manufacturing in China, which could increase China’s troubles.
iPhone production will increase rapidly in India
According to experts, if such momentum continues, India can cross the $30 billion annual production figure in the next few years. Apple is registering an increase in retail sales. Let us tell you that India is the second largest smartphone market in the world. However, at present India is the fifth largest market for Apple. UK is Apple’s fourth largest market and Japan is its fifth largest market. It is believed that iPhone sales may increase this year, due to which Apple may move beyond the fifth position.
Who has what share in iPhone exports?
If statistics are to be believed, Foxconn’s share in iPhones exported from India is 54 percent. After this comes Tata Electronics with 29 percent and pegatron with 17 percent, which Tata has recently acquired.