Apple has achieved a new record in India, something no other brand has done before. The Cupertino-based tech giant has become the first company in the country to export smartphones worth $1 billion (~Rs 8,100 crore) in a single month. As per the data from Economic Times, Apple has achieved the export milestone in December 2022.
Apple and Samsung are major smartphone exporters from India. As per government officials, in November last year, the former had surpassed Samsung to become the number one exporter in the country. The Cupertino-based tech giant has three contract manufacturers in India namely Foxconn, Pegatron, and Wistron. The former two are located in Tamil Nadu whereas the latter is based in Karnataka. The company has been locally manufacturing the iPhone 12, iPhone 13, iPhone 14, and iPhone 14 Plus in the country. As per officials, some small manufacturers also export iPhones out of India.
Apple has been participating in the Indian government’s product-linked incentive (PLI) scheme since it was launched in April 2020. All three manufacturers are required to submit data on production, exports, investments, and jobs to the government as part of their participation in the PLI scheme. Apart from Apple’s export numbers, the data also revealed that December was a record month for the mobile phone industry with over Rs 10,000 crore in exports. Officials added that this would have been higher if Samsung’s facility was operating at full capacity instead of being closed for 10-15 days for maintenance.
The government estimates that India will export mobile phones worth around $9 billion in the fiscal year 2022 – 2023. The $1 billion exports benchmark set by iPhones in a month sets a leading example of the government’s ambitious PLI schemes.