In March-September, India’s iPhone exports rose to around $6 billion. Apple is increasing the figure to reduce dependence on China amid strained relations between Beijing and the United States. This was reported by Bloomberg citing informed sources.
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According to them, India’s iPhone export volume increased by a third compared to March-September 2023, and by the end of 2024 it could exceed $10 billion.
Apple is expanding production in India, taking advantage of local subsidies, skilled labor and technological advances in the country, Bloomberg notes. According to him, iPhones in India are assembled by the Taiwanese group Foxconn Technology Group and Pegatron Corp., as well as the local Tata Electronics.
iPhones account for the bulk of India’s smartphone exports, and the category will lead exports to the United States, reaching $2.88 billion in the first five months of 2024, the agency said. Five years ago, before Apple expanded its production in India, the country’s annual smartphone exports to the United States amounted to just $5.2 million, Bloomberg writes.
The American company now owns just under 7% of the country’s smartphone market, dominated by Chinese companies Xiaomi, Oppo and Vivo, but despite this, Apple is “making big bets” on Indian production, the agency notes.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
