According to local media in India, quoting government officials, Apple plans to increase its production value in India in the next five years by more than five times to 40 billion U.S. dollars (currently about RMB 292 billion).
Apple’s production in the country was worth more than $7 billion last fiscal year and is targeting $40 billion, the official said. Apple makes iPhones in India and plans to start making AirPods next year, while the country hopes to expand its electronics industry to $300 billion by 2026, the official said.
Apple has no current plans to make iPads or its laptops in India, and the focus is on increasing existing production levels, the official said.
Apple sold $191 billion worth of iPhones and $38.36 billion worth of wearables, home and accessory products globally in its fiscal year ending September 25, 2022, the company said. In the first nine months of the current fiscal year, the company’s iPhone sales declined by about 4% to $156.77 billion and sales of wearables, home and accessory products also declined slightly to $30.52 billion. The company has become the largest exporter of cell phones in India.
Apple’s new iPhone 15 series went on sale on Friday, offering a “Made in India” iPhone for the first time on the same day the company started selling the new models in the rest of the world. according to market research firm Counterpoint Research, Apple led the ultra-premium market in the first quarter of 2023. According to market research firm Counterpoint Research, Apple led the ultra-premium market in the first quarter of 2023 with 59 percent of the market, and India is now one of the company’s top five markets.
