India exports iPhones worth $1 billion in 5 months
By MYBRANDBOOK
The value of iPhones exported from India has crossed $1 billion from April to August, the report from Bloomberg states. The shipments from India, mainly to Europe and the Middle East, are expected to hit $2.5 billion in the 12 months through March 2023. The tech giant has been manufacturing iPhones in India from 2017
The devices exported from India from April to August this year comprise iPhone 11, 12 and 13 models. About three million iPhones were made in India last year, compared with 230 million in China.
The outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023, almost double when compared to the year through March 2022, the report says.
The report comes as Apple seeks to shift some areas of iPhone production from China to other markets including India, the second biggest smartphone market in the world, where it is also planning to assemble iPad tablets.
India and other countries including Mexico and Vietnam are increasingly turning important to contract manufacturers supplying to American brands as they seek to diversify production away from China, amid COVID-related lockdowns and simmering tensions between Washington and Beijing.
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