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Apple’s smartphone sales reached $ 8 billion in FY 2024. While its share in the market was only 8%.
In the 12 months from March 2024 to March 2025, Apple manufactured the iPhone of $ 22 billion (about ₹ 1.88 lakh crore) in India. It has increased by 60% compared to last year.
During this, Apple exported iPhone of $ 17.4 billion (about ₹ 1.49 lakh crore) from India. At the same time, one in every 5 iPhone worldwide is now being made in India. This information has been given in Bloomberg’s report.
The manufacturing of the iPhone in India is done in the factories of Tamil Nadu and Karnataka. Foxconn is the most produced in this. Foxconn is also Apple’s largest manufacturing partner. Apart from this, Tata Electronics and Pagtron also contribute to this growing production.
FY $ 8 billion iPhone sale in 2024
Apple’s smartphone sales reached $ 8 billion in FY 2024. While its share in the market was only 8%. The iPhone is still a luxury in the emerging middle class of India, so the market is expected to grow here.
Why Apple’s focus on India?
- Supply chain diversification: Apple wants to reduce its dependence on China. Problems such as Geopolitical Tension, Trade Dispute and Kovid-19 lockdown felt that it is not right to depend more in one area. In this context, India is proving to be a low risk option for Apple.
- Cost Advantage: India provides labor at a lower cost than China, which makes it more attractive. In addition, manufacturing at local level helps the company to avoid high import costs on electronics.
- Government incentive: India’s Make in India Insiative and Production Linked Insiative (PLI) schemes provide financial assistance to companies to increase local manufacturing. These policies have encouraged Apple partners like Foxconn and Tata to invest more in India.
- Rising Market Possibility: India is one of the fastest growing smartphone markets in the world. Local production helps Apple to meet this demand more, as well as its market share, which is currently about 6-7%.
- Opportunity for export: Apple exports its 70% iPhone made in India, which gives the benefit of India’s low import tariffs than China. In 2024, iPhone exports from India reached $ 12.8 billion (about ₹ 1,09,655 crore). It is expected to increase further in the coming times.
- Skilled Workforce and Infrastructure: India’s Labor Force is behind China in terms of experience, but it is still improving a lot. Apple’s Foxconn -like partners are training employees to meet the production needs and expand facilities like plants like $ 2.7 billion (₹ 23,139 crore) in Karnataka.
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Foxconn is purchasing 300 acres of land in Uttar Pradesh: Manufacturing plant will be built near Yamuna Expressway, the company supplies Apple products
Foxconn, a company that assembles products like iPhone, iPad and Mac Book for Apple, is going to buy 300 acres of land in Greater Noida in Uttar Pradesh.
The company will build a manufacturing plant on this land near the Yamuna Expressway. This will be Foxconn’s first plant in North India and the manufacturing facility made in Bangalore will be large. Hopefully it can be the second largest plant in the world.
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