As part of its plan to move some production out of China, Apple plans to produce over 50 million iPhones annually in India, according to a report released on Friday.
The Wall Street Journal, citing people close to the development, reports that the tech giant plans to achieve the target within the next two to three years, with additional tens of millions of units planned after that.
If Apple meets this goal, 25% of iPhones produced worldwide would come from India. The report stated that China will continue to be the biggest producer of iPhones.
Apple is going to have a difficult time moving its production outside of China.
Foxconn, its primary supplier, intends to expand its operations in India while Tata Group is preparing to allegedly construct one of the country’s biggest iPhone assembly plants.
According to government and industry data, India exported mobile phones worth $5.5 billion (more than Rs 45,000 crore) during the April–August period of the current fiscal year (FY24).
Estimates obtained by IANS from the Department of Commerce and the India Cellular and Electronics Association (ICEA) show that mobile phone exports during the April–August period totaled $5.5 billion, compared to $3 billion (roughly Rs 25,000 crore) during the same period in FY22–23.
Between April and August, Apple and Samsung exported more phones made in India than any other company, with the former exceeding 50% of the total estimated value for the first time.
According to sources who spoke with IANS, Samsung exported 45% of the nation’s 12 million smartphone shipments in the June quarter, while Apple shipped almost 50% of them.
India’s mobile phone exports are expected to exceed Rs 1,20,000 crore in the current fiscal year, with Apple controlling more than 50% of the market in FY24.