(CTN News) – Apple, the iPhone maker, is planning to significantly ramp up its production in India over the next 4-5 years, aiming to reach a production value of approximately $40 billion, as reported by government sources.
In the previous fiscal year, the company had already surpassed India’s $7 billion production milestone.
While Apple currently manufactures iPhones in India, it intends to expand its production capabilities by including Airpods in its manufacturing lineup starting the next year. However, there are no immediate plans to manufacture iPads or laptops within the country.
The company is not currently participating in the Indian IT hardware Production-Linked Incentive (PLI) scheme, but there is a possibility that it might consider it at a later stage.
For now, Apple’s primary focus is on increasing its existing production levels.
In the fiscal year ending September 25, 2022, Apple achieved global iPhone sales worth $191 billion and products valued at $38.36 billion in the wearable, home, and accessories segment.
Although iPhone sales experienced a slight decline of around 4 percent, the company has made strides in the Indian market, becoming the largest exporter of mobile phones from the country.
During the iPhone 15 series launch, Apple witnessed a remarkable 100 percent growth in sales compared to the previous iPhone 14 series. Furthermore, Apple has begun producing two variants of the iPhone 15 series, the iPhone 15 and iPhone 15 Plus, in India.
Notably, the “made-in-India” iPhones were made available to consumers simultaneously with their global launch, marking a significant milestone.
Market research firm Counterpoint Research reports that Apple currently dominates the ultra-premium smartphone segment, representing phones priced above ₹45,000, with a commanding 59 percent market share in the first quarter of 2023. India has also emerged as one of the top-five markets for Apple globally.
This expansion of production capabilities in India reflects Apple’s strategic efforts to enhance its presence in one of the world’s fastest-growing smartphone markets and leverage the benefits of local manufacturing.
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