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As iPhone production and exports surged over the past year, Taiwan-based iPhone manufacturers operating in India quickly requested reimbursement after meeting the incentive targets.
As India is waiting for the first two Apple Stores to be opened in India this week, it is estimated that Apple has become India's largest mobile phone exporter in India.
Smartphone lens module specialist Largan Precision has expressed caution about its sales prospects for the second quarter, citing the continued weakness of global smartphone sales.
Chinese brand vendors, including Xiaomi and Vivo, have recently begun to promote new smartphones, even though the handset industry is heading for the traditional off-season in the second quarter, according to industry sources.
China-based Vivo has begun a fresh round of investments in India and looking to build the South Asian country into one of its regional production hubs amid regulatory pressures from Indian authorities over the past year.