According to government sources, Apple intends to increase production in India by up to fivefold to over $40 billion (around 3.32 lakh crore) over the next 4-5 years. According to the official, who did not want to be identified, the corporation produced $7 billion in the previous fiscal year.
In the next 4-5 years, Apple intends to grow production in India to more than USD 40 billion. According to the official, it surpassed USD 7 billion in the previous fiscal year. An email inquiry was addressed to Apple, but no response was received.
Apple currently manufactures iPhones in India and wants to begin manufacturing AirPods next year. According to the officer, Apple has no imminent intentions to manufacture iPads or laptops in the country.
They don’t intend to take part in the PLI for IT hardware. They might arrive later, but for the time being, their priority is to build up current production levels, the officer said.
In the fiscal year that concluded on September 25, 2022, the business sold iPhones worth $191 billion globally as well as goods worth $38.36 billion in the wearable, home, and accessories segments.
The business reported roughly a 4% reduction in iPhone sales in the first nine months of the current fiscal, totaling $156.77 billion, and a marginal decline in the wearable, home, and accessories segment, totaling USD 30.52 billion. The business has grown to be India’s top exporter of mobile phones.
Industry sources claim that on the day of its launch on Friday, sales of Apple’s iPhone 15 series increased by 100% over those of the iPhone 14 series.
The iPhone 15 series has four models that Apple has released. The iPhone 15 and iPhone 15 Plus are two variations that are also produced in India.
On the same day that it began selling the handsets in other areas of the world, the company for the first time made the “made in India” iPhones available.
In the first quarter of 2023, Apple had a 59% market share in the ultra-premium class, which includes phones costing more than Rs 45,000 each. India is currently one of the company’s top-five markets worldwide.