iPhone Production Growth Fuels Apple's Impressive Operations in India
iPhone Manufacturing Boosts Apple India Operations
Apple's India operations achieved a remarkable milestone, surpassing Rs 2 lakh crore ($23.5 billion) in the fiscal year 2024, driven largely by iPhone production growth.
Substantial Growth in Domestic Sales
This significant increase from last year's Rs 1.15 lakh crore can be primarily attributed to enhanced iPhone manufacturing and robust sales of MacBooks, iMacs, iPads, Watches, and AirPods.
- Domestic sales of Apple products: Rs 68,000 crore ($8 billion)
- iPhones produced in FY24 valued at Rs 1.80 lakh crore
- Local manufacturing has enabled expansion in the Indian market
The report highlights that Apple likely demonstrated the fastest growth in production and exports of any company in India over the last 50 years, solidifying their position as the largest global value chain operating domestically.
iPhones Remain the Core Growth Driver
According to recent data, iPhones continue to lead Apple's growth trajectory. With local sales accounting for approximately Rs 45,000 crore, iPhones remain a fundamental part of Apple's overall success in India.
- Local manufacturing began in 2021
- Export value for iPhones in FY23 reached Rs 66,000 crore
While these advancements have occurred, Apple's market share in India remains below 6%, a challenge in a market predominantly influenced by the Android ecosystem. This development reinforces the necessity for continued innovation and strategic positioning in the Indian tech landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.