Apple Exports $6 Billion in iPhones from India, Boosts Manufacturing Away from China - Read Now 

Apple has exported $6 billion worth of iPhones from India in the first 6 months of 2024. That’s 33% year on year growth. Apple is working to reduce its dependence on China by expanding its manufacturing in India. So Apple’s annual exports are going to cross $10 billion in 2024, according to Bloomberg.

Manufacturing and Key Suppliers

To achieve this growth Apple has expanded its partnerships with key suppliers like Foxconn, Pegatron and Tata Electronics who are now key players in India’s iPhone ecosystem. Foxconn’s facility near Chennai accounts for nearly 50% of India’s total iPhone exports. Tata Electronics which acquired Wistron Corp’s assembly unit in Karnataka contributed $1.7 billion in iPhone exports between April and September 2024.

This is key to Apple’s strategy of diversifying away from China where geopolitical tensions and trade challenges are making life difficult for global tech players. Apple is leveraging India’s skilled workforce, government incentives and growing infrastructure to make the country a key part of its global supply chain.

Boosting India’s Exports

The impact of Apple’s shift to India goes beyond the company itself, with iPhones now accounting for India’s largest smartphone exports. Data from India’s commerce ministry shows smartphone exports to US stood at $2.88 billion in the first 5 months of this fiscal year. That’s up from just $5.2 million 5 years ago when India’s smartphone exports to US were minimal. Apple has been the game changer for the sector.

Market and Growth Potential

Despite Apple’s manufacturing progress it still has less than 7% of India’s smartphone market where Chinese brands like Xiaomi, Vivo and Oppo are dominant. But Apple’s increasing investments in the region and the launch of iPhone 16 Pro and Pro Max will drive growth. Apple is also expanding its retail presence in India with plans to open new stores in cities like Bengaluru and Pune.

Analysts predict Apple’s revenue in India to reach $33 billion by 2030 driven by the growing middle class and easier payment plans. Apple’s shift to India also helps it to navigate the challenges in China where it saw 0.3% drop in iPhone sales while Huawei saw 42% growth.

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