Apple iPhones worth Rs 47,000 crore to be manufactured in India in FY23: Report – News9 LIVE

29 April 2022 2:37 PM GMT
Apple iPhone 13 Pro Max. (Image Credit: Pexels)
In the fiscal year 2022-23, Apple’s contract manufacturers (Pegatron, Wistron, and Foxconn) are projected to produce iPhones worth Rs 47,000 crore in India. Wistron is expected to produce Rs 27,000 crore worth of iPhones, while Pegatron and Foxconn will produce iPhones worth Rs 12,000 crore and Rs 8,000 crore, respectively. According to The Economic Times, this sum is about five times higher than the Rs 10,000 crore worth of iPhones manufactured by the three companies in the fiscal year 2021-22. It is also more than double the minimum need for the three manufacturers to get incentives in the second year under the government’s Production Linked Incentive (PLI) scheme.
Apple’s contract manufacturers are expected to make iPhones worth ₹47,000 crore in India this fiscal, the second year of the production linked incentives (PLI) scheme that started in April https://t.co/YguasIDBr5 via @narendramodi
Apple is likely to supply roughly seven million iPhones this year, amounting to a 5.5 per cent market share. This expansion is the result of more reasonable financing schemes and local manufacturing.
Apple has a market share of only 1.5 per cent in India, and more than 60 per cent of iPhones built in India will be exported to other countries around the world.
With the introduction of the iPhone SE in 2017, Apple started producing iPhones in India. It has since added the iPhone 11 and iPhone 12 series smartphones to the list. Recently, the company also started manufacturing iPhone 13 series in India. Foxconn is Apple’s main provider in the country, producing all iPhone 13 models, while Wistron produces the iPhone SE and iPhone 12.
Besides this, Apple supplied nearly a million ‘Made in India’ iPhones in the first quarter of this year. According to a CyberMedia Research report, Apple boosted its proportion of made-in-India iPhones by 50 per cent year on year in Q1 2022.
Moreover, only 23 per cent of iPhone exports in India were imported last year, a significant decline from the 64 per cent imports in 2019.
iPhone 12 maintained its lead with a 52 per cent market in Q1 2022, followed by the iPhone 13, which had a 20 per cent share, and the iPhone 11, which had an 18 per cent share. In terms of iPads, Apple saw a 31 per cent rise in India, led by the iPad 9th generation (Wi-Fi), which accounted for 45 per cent of the market.
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