iPhone maker Apple has plans to scale up production in India by over five-fold to round USD 40 billion (about 3.32 lakh crore) in the subsequent 4-5 years, in accordance to authorities sources. According to the official, who didn’t want to be named, the corporate has crossed the USD 7 billion production mark in the final monetary 12 months.
“Apple has plans to increase production in India to over USD 40 billion in the next 4-5 years. It has crossed USD 7 billion in the last fiscal,” the official mentioned. An e-mail question despatched to Apple didn’t elicit any reply.
Apple producers iPhones in India and has plans to begin manufacturing Airpods from subsequent 12 months.
The officer mentioned that Apple has no speedy plans to make iPads or its laptops in India. “They don’t have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels,” the officer mentioned.
The firm globally bought iPhones value USD 191 billion and merchandise value USD 38.36 billion in the wearable, house and equipment section in the monetary 12 months ended on September 25, 2022. In the primary 9 months of the present fiscal, the corporate recorded a couple of 4 per cent dip in iPhone gross sales at USD 156.77 billion and a slight decline in the wearable, house and equipment section at USD 30.52 billion. The firm has develop into the biggest exporter of cell phones from India.
According to business sources, gross sales of Apple’s iPhone 15 collection registered a 100 per cent development in contrast to that of the iPhone 14 collection on the launch day on Friday. Apple has launched 4 fashions in the iPhone 15 collection. Two variants — iPhone 15 and iPhone 15 Plus — are additionally being made in India.
The firm has for the primary time made out there the ‘made-in-India’ iPhones on the identical day it began promoting the units in different components of the globe. According to market analysis agency Counterpoint Research, Apple led the ultra-premium section, with telephones priced above Rs 45,000 apiece, with 59 per cent market share in the primary quarter of 2023 and India is among the many top-five markets for the corporate now.
(with inputs from PTI)
