/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/post_banners/tVNpsAAwv97se4Ls3EuJ.jpg)
US-based iPhone maker Apple reportedly plans to expand its production in India over the next 4-5 years.
According to a PTI report, The company aims to increase its production value to around $40 billion, a substantial rise from the $7 billion mark achieved in the last fiscal year.
The report also said the move could be part of Apple's broader strategy to leverage India's manufacturing capabilities and market potential.
Is Apple manufacturing in India?
Apple currently manufactures iPhones in India and plans to start producing AirPods in the next year.
However, A PTI report that Apple has no immediate plans to produce iPads or laptops in the country. The focus, for now, is to escalate the existing production levels, with participation in IT hardware PLI possibly coming at a later stage, the report added.
In the global market, Apple has recorded sales of iPhones worth $191 billion and USD 38.36 billion in the wearable, home, and accessories segment in the financial year ended on September 25, 2022. Despite a slight dip in sales in the first nine months of the current fiscal year, the company has emerged as India's largest exporter of mobile phones.
Is Apple making the iPhone 15 in India?
The recent launch of the iPhone 15 series has witnessed a 100% growth in sales compared to the iPhone 14 series on the launch day.
Mainly, two variants of the iPhone 15 series, the iPhone 15 and iPhone 15 Plus, are being manufactured in India. For the first time, 'made-in-India' iPhones were available globally on the same day as in other parts of the world.
Apple's commitment to scaling up production in India is a testament to the country's manufacturing prowess and a strategic move to tap into one of its top five markets. The company led the ultra-premium segment in India with a 59% market share in the first quarter of 2023.
The rapid expansion is expected to significantly contribute to job creation and economic growth in the region.
What's so special about iPhone 15?
US-based Apple has recently launched its new iPhone 15 series at the 'Wonderlust' launch event on September 12.
The series includes four models: iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, each boasting aesthetic enhancements and substantial hardware upgrades, such as a new 48 MP lens camera.
Alongside, Apple launched the Watch Series 9, Ultra 2, and the new AirPods Pro with USB-C functionality.
The pricing for the new iPhone models in India starts at Rs 79,900 for the 128GB iPhone 15 model, with the iPhone 15 Pro Max going up to Rs 1,99,900.
Also Read: