Mobile Exports: Smartphone production for local consumption was up 8% year-on-year in the January to February period, with over 30 million units produced during the period, said Singh. He added that with exports combined, smartphone production jumped to 10-12% in the same period, driven by heavy exports from Apple.
Smartphone makers are hoping for exports from India to continue their strong showing, which will drive their own growth as production levels are reaching their saturation point if only the domestic market is to be served, said market trackers. "The only headroom for growth right now is by increasing exports from India," said Prachir Singh, senior analyst, Counterpoint Research.
Apple's big bite: 1 in 7 iPhones now made in India - Technology News financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Apple's iPhone production in India has surged significantly, with $14 billion worth of smartphones manufactured in FY24, doubling the previous fiscal's output. This translates to one in seven iPhones globally being assembled in India. Over 70% of this production has been exported to Europe, the US, and Asia. Foxconn Hon Hai and Pegatron in Tamil Nadu, along with Wistron (now owned by Tata Group) in Karnataka, have been key contributors. These vendors, part of India's smartphone production-linked incentive (PLI) scheme, have surpassed investment targets, exemplifying the success of India's manufacturing push in the tech sector.
Bharat FIH diversifies beyond Xiaomi orders at Chennai campus to explore EVs, telecom equipment, and TVs. Leveraging Make in India initiative with PLI benefits, the company aims to support GOI's localization plans and expand capacity based on customer demand. Bharat FIH is now looking to power growth in segments such as telecom equipment, electric vehicles, televisions and displays.
Xiaomi: Confirming the diversification strategy, Bharat FIH said it was leveraging on its success in smartphones to make strides in newer segments such as EVs. The company declined to disclose the Sriperumbudur plant's operating capacity, which it said was a factor of customer demand, planning and prevalent market conditions. However, the company was quick to add that it has "exceptional capability" to expand capacity as per customer needs.
Bharat FIH diversifies beyond Xiaomi orders at Chennai campus to explore EVs, telecom equipment, and TVs. Leveraging Make in India initiative with PLI benefits, the company aims to support GOI's localization plans and expand capacity based on customer demand.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government.
This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
This story was first published on the Benzinga India portal. Apple Inc. (NASDAQ: AAPL) is ready to boost its iPhone production in India, with an expected reach of $12 billion in Freight On Board (FOB) value by 2023-24, according to a report by local publication Business Standard. This initiative not only overshadows the initial plan of shifting nearly 9% of its total production to India by fiscal year 2024 but also denotes a significant rise in Apple's involvement in the Production-Linked Incent