India is making giant strides in presenting itself as an alternative to the world’s factory i.e China. The country exported more than $1 billion worth of iPhones in five months since April, per a Bloomberg report.
The total exports till March 2023 are expected to reach $2.5 billion which will be double compared to the same yearly period through March 2022.
Currently, iPhone 11,12 and 13 models dominate the export from the South Asian country to Europe and West Asia
Although the total share of iPhone production from India is still far less comparatively, the recent trend suggests that the country is quickly bridging the gap.
As reported by WION, in what comes as a landmark shift, Apple, last week officially announced that it was manufacturing its latest, flagship iPhone 14 in India alongside China.
“The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We’re excited to be manufacturing iPhone 14 in India,” read the company’s statement.
By manufacturing iPhone 14 in India, roughly at the same time as in China, the Cupertino-based company is attempting to reduce the gap and bring it on par with China for future models. Previously, Apple manufactured its iPhone 13 model in India, six-seven months after it was launched.
According to reports, Apple is expected to move five per cent of its global production of iPhone 14 to India by the end of the year. The company has kept an ambitious target of manufacturing 25 per cent of all iPhones by 2025 in India, per analysts at JP Morgan.
Taiwanese major Foxconn is currently manufacturing all Apple devices at the company’s Sriperumbudur plant, outside the southern Indian city of Chennai.