Apple to Increase Production Over Five Times in India in next 5 Years: Report

26 September 2023: iPhone 15 series including iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max were recently released in India and Globally. Apple for the first time, made the India-built iPhone 15 models available to its customers worldwide on the global launch day.

Apple Inc. will be increasing the production in India by over five times to around $40 billion, (approx 3.32 lakh crore) in the next 4-5 years, PTI reported. Apple has crossed the $7 billion production mark in last financial year. Apple is already manufacturing iPhones in India and has plans to start manufacturing Airpods from next year. The officer said that Apple has no immediate plans to make iPads or its laptops in India.

As per industry sources, sales of Apple’s iPhone 15 series registered a 100%growth compared to that of the iPhone 14 series on the launch day. Apple globally sold iPhones worth $191 billion and products worth $38.36 billion in the wearable, home and accessories segment in the financial year ended on September 25, 2022.

According to market research firm Counterpoint Research, Apple led the ultra-premium segment, with phones priced above Rs.45,000 apiece, with 59% market share in the first quarter of 2023 and India is among the top-five markets for the company.

Industry data showed Apple clocked a rapid growth in export volumes in the last year. Its share of exports soared from just 9% of the roughly 8 million smartphones shipped in Q2 2022, to almost half the total smartphone exports in Q2 2023. India exported around 13 million smartphones in March quarter this year, which fell to 12 million in Q2 2023.