Apple Inc. reported a significant milestone in its Indian operations, revealing that it successfully manufactured iPhones valued at a staggering 1 lakh crore rupees in the past year. This production surge is part of the company’s aggressive strategy to establish a stronger foothold in the burgeoning Indian smartphone market.
From January to December, Apple’s domestic production in India resulted in iPhones worth 65,000 crore rupees, marking a substantial contribution to the Indian market. While the ex-factory price of these iPhones is reported to be 1 lakh crore rupees, market dynamics are expected to push the retail prices to a range between 1.5 to 1.7 lakh crore rupees, according to sources within the company.
The Production-Linked Incentive (PLI) scheme has played a pivotal role in facilitating Apple’s manufacturing expansion in India. The company is gearing up to produce additional iPhones as part of its commitment to meeting the rising demand for its iconic devices.
Apple’s move to increase iPhone production in India aligns with its broader global strategy to diversify manufacturing operations beyond China. The company is actively participating in the PLI scheme, reflecting its commitment to expanding production capabilities within the country.
Beyond catering to the Indian market, the increased iPhone production in India is also aimed at serving global markets. Apple’s market share in India witnessed a notable 6% growth last year, showcasing the success of its localized manufacturing initiatives.
Key players in Apple’s manufacturing ecosystem in India include Tata Group, with subsidiaries such as Foxconn, Pegatron, and Vistron actively contributing to the company’s contract manufacturing endeavors. This collaborative effort highlights Apple’s dedication to fostering a robust manufacturing ecosystem within India.
The success of Apple’s market entry strategy has not only solidified its position in the Indian smartphone landscape but has also impacted competitors like Samsung, which experienced a 26% decline in market share over the past five years. Apple’s continued commitment to manufacturing iPhones in India underscores the company’s strategic vision for sustained growth in this dynamic market.
