Apple Exported $6 Billion Worth Of India-Made iPhones

In a significant move, Apple Inc.'s iPhone exports from India have jumped by a third in the six months through September, highlighting push to expand manufacturing in the country and reduce its dependence on China, says a report by news agency Bloomberg.

The Cupertino-based tech giant exported nearly $6 billion worth of India-made iPhones, an increase of a third in value terms from a year earlier, according to people familiar with the matter, as quoted by the report. 

Also read: Apple Intelligence Now Live in US English, Coming to India in 2025

This puts annual iPhone exports on track to surpass the $10 billion mark in fiscal 2024.

Apple Reducing China Reliance

Apple's decision to expand its manufacturing network in India is a crucial part of the company's effort to lessen its reliance on China, where risks have grown along with Beijing's tensions with the US. The move takes advantage of local subsidies, a skilled workforce, and advances in India's technological capabilities.

Foxconn's iPhone Exports From India

Three of Apple's suppliers in India -- Taiwan's Foxconn Technology Group and Pegatron Corp., as well as homegrown Tata Electronics -- assemble iPhones in southern India. Foxconn's local unit, based on the outskirts of Chennai, is the top supplier in India and accounts for half of India's iPhone exports.

Tata's iPhone Exports From India

India's biggest conglomerate Tata Group's electronics manufacturing arm exported about $1.7 billion in iPhones from its factory in Karnataka from April to September. Tata acquired this unit from Wistron Corp. last year, becoming the first Indian assembler of Apple's bestselling product.

India's Smartphone Exports

Apple iPhones account for the bulk of India's smartphone exports and helped the product category become the top export to the US at $2.88 billion in the first five months of this fiscal year, according to ministry data. 

Five years ago, before Apple expanded manufacturing in India, the country's annual smartphone exports to the US was just $5.2 million.

However, Apple accounts for just under seven per cent of India's smartphone market, which is dominated by Chinese brands such as Xiaomi, Oppo and Vivo.