Apple To Boost Production Over Five Times in India To USD 40 Billion By CIOTechOutlook Team

Apple To Boost Production Over Five Times in India To USD 40 Billion

CIOTechOutlook Team | Monday, 25 September 2023, 02:40 IST

Apple intends to more than fivefold its output in India to over $40 billion (around 3.32 lakh crore) over the next four to five years. According to the official, who did not want to be identified, the corporation produced $7 billion in the previous fiscal year. Apple makes iPhones in India and expects to start making AirPods there next year. According to the officer, Apple has no imminent intentions to produce iPads or laptops in India.

"They don't have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels," the officer said.

The company globally sold iPhones worth $191 billion and products worth $38.36 billion in the wearable, home and accessories segment in the financial year ended on September 25, 2022. In the first nine months of the current calendar year, the company recorded about a 4% dip in iPhone sales at $156.77 billion and a slight decline in the wearable, home and accessories segment at $30.52 billion, as per economic times.

The company has grown to become India's leading exporter of mobile phones. According to industry insiders, Apple's iPhone 15 series sales increased by 100% compared to the iPhone 14 series on the launch day.

The iPhone 15 series includes four devices from Apple. The iPhone 15 and iPhone 15 Plus are also manufactured in India. The business made the'made-in-India' iPhones available for the first time on the same day it began selling the smartphones in other areas of the world.