According to a report by the news agency Bloomberg, Apple exported more iPhones from India between April and December of last year for over $2.5 billion, more than it exported for the entire fiscal year 2021–22 (FY22). With zero Covid-19 policies and booming iPhone production in India, these quickly rising numbers show how the tech giant is relocating its production away from China, which was rocked by worker unrest.
Apple’s top contract manufacturer Foxconn Technology Group
and another contract manufacturer for Apple, Wistron, have each shipped more than $1 billion worth of their signature products abroad in the first nine months of the fiscal year ending in March 2023. By the end of January, Pegatron Corp., another iPhone contract producer, plans to export nearly $500 million worth of iPhone models.
It should be mentioned
that the digital juggernaut with headquarters in Cupertino, California. It began producing its most recent iPhone models in India in 2022. Apple began producing iPhones in India in 2017. But the tech giant didn’t stop producing older iPhone models there until 2022. Apple introduced the iPhone 14 model in September, and 10 days after the series’ global introduction, the corporation started manufacturing the new model in the nation. This move highlighted Apple’s waning reliance on China.
Foxconn, Wistron, and Pegatron are the three assembly companies
that work with Apple in India. And all three are PLI participants with plans to increase their output in the years to come. India produced 3–4% of the world’s iPhones in CY2021. According to Counterpoint Research, that percentage will rise to 7-8% by CY2023.
Long-standing promises by Apple to open physical stores in India
appear to have been put on hold as a result of Covid limitations. But according to a recent Indian Express article. The iPhone manufacturer may soon open two retail locations in India. This revelation occurs against a backdrop of media speculation. That Apple has begun employing staff for a number of its retail stores. In the meantime, the Indian giant Tata Group is considering opening 100 Apple-only stores across the country.
Read More: Samsung Galaxy S23 to reveal at the Galaxy Unpacked event on February 1
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