Apple iPhone Export From India Hits $1 Billion in a Month: Here’s More About it
The export of Apple iPhones from India has hit $1 billion in a month’s time. This makes Apple the first smartphone company in India to get $1 billion through smartphone exports.
Read more about it below.
Apple iPhone Exports Hits $1 Billion in India
The iPhone exports from India has hit $1 billion in just one month making the company the first smartphone manufacturers to have attained this success in the country.
Reports also reveal that the overall export of the company from India has reached Rs. 10,000 crores as well.
The Apple iPhone 11, 12, 13 and 14 models are currently being manufactured in India and the iPhones manufactured in India are mainly being exported to the countries of Europe and the Middle East.
With the growing issues that the company has been having with the government of China and with the administration of Xi Jinping, Apple had been planning to shift it sales to India and has already started taking the necessary steps.
The company has also planned to setup a new Apple manufacturing plant near Hosur which will employ 60,000 workers.
Currently in India, iPhones are being manufactured by the electronics giants – Foxconn, Pegatro and Wistron. Foxconn, Pegastro and Wistron are also beneficiaries of the Indian government’s PLI scheme for smartphones.
The export success in the country will definitely give the company more faith in their decision of setting up their plant in India and shifting its manufacturing completely to the country.
Reports also reveal that the government of India estimates that India is likely to export smartphones worth about $9 billion in Fiscal Year 2023 from the previous $5.8 billion in Fiscal Year 2022.
