Apple's 'Make in India' shipments have reportedly grown by 65 per cent (on-year) by volume and 162 per cent by value. The tech giant is taking the brand's value share to 25 per cent in 2022, up from 12 per cent in 2021, a new report showcased.
The contribution of exports in 'Make in India' smartphone shipments from Apple has reached the highest ever (the report stated) in 2022, both in volume (20 per cent) and value terms (30 per cent), Counterpoint Research reported.
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Overall, 'Make in India' smartphone shipments have reportedly declined by 3 per cent YoY in 2022 (January-December) to reach 188 million units.
It is said that the major factor behind this decline has been the softening of consumer demand due to macroeconomic headwinds, especially in the second half of the year.
Prachir Singh, a senior research analyst said, "Apple's EMS (electronics manufacturing services) partners Foxconn Hon Hai and Wistron were the fastest growing manufacturers among the top 10 in Q4 2022. The growth was also fuelled by increasing exports from Apple."
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In Q4 2022, Samsung emerged as the top smartphone manufacturer, ahead of OPPO whose manufacturing shipments declined 31 per cent YoY due to inventory issues in the entry-tier segment.
"Apple's EMS partners Foxconn Hon Hai, Wistron and Pegatron were among the top 10 EMS players in India in 2022 in terms of volume. In terms of value, Foxconn Hon Hai and Wistron led the EMS landscape," said Singh.
Both of these manufacturers have received the PLI incentive in the recent disbursements.
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Among OEMs, OPPO has led the 'Made in India' smartphone shipments in 2022 with a 22 per cent share, followed by Samsung.
Tarun Pathak, Research Director said that overall, 2022 has been a good year in terms of manufacturing and localisation in India.
"The increasing exports from Apple, Samsung and other OEMs drove the locally manufactured shipments in 2022 and somewhat offset the impact of the local demand decline. The recent disbursement of PLI incentives from the government as well as other initiatives, both at the central and state levels, has boosted the overall local manufacturing," Pathak noted.
Going forward, we may see the country reaping benefits of the PLI scheme thanks to increasing exports from Apple and Samsung, said the report.
Inputs from IANS