A recent report revealed that Apple aims to produce more than 50 million iPhones each year in India, a move to diversify its production away from China. The tech giant has set a target to achieve this within the next two to three years, with plans for even more units in the following years, reports the Wall Street Journal.
India's Big Role in iPhone Production
Reportedly, if Apple succeeds in this attempt, India will contribute a substantial 25% to the global iPhone production. However, China will still retain its position as the largest iPhone producer. Apple's primary supplier, Foxconn, is also expanding its presence in India, while Tata Group is gearing up to construct one of India's largest iPhone assembly plants.
India's Growing Mobile Phone Exports
India has witnessed a significant rise in mobile phone exports, reaching $5.5 billion in the April-August period of the current fiscal year. This marks a notable increase from the $3 billion in the same period in the previous fiscal year. Apple has taken the lead in India-made phone exports during this timeframe, surpassing 50 per cent of the total estimated figure, with Samsung following closely behind.
Apple's Dominance in India's Smartphone Market
As per the report, in the June quarter alone, Apple accounted for nearly 50 per cent of the country's total 12 million smartphone shipments. This surpassed Samsung, which held a 45 per cent share in exports. Apple is set to continue leading the Indian mobile phone market, contributing to an anticipated total of over Rs 1,20,000 crore in mobile phone exports for the current fiscal year.
Inputs from IANS