Apple gives a blow to China, iPhones worth more than Rs 50,000 crore exported from India
US devices maker Apple’s export of iPhones from the country has increased by almost one-third in the first half of the current financial year. This indicates that the company’s plan to reduce dependence on China and expand manufacturing in India is going ahead. Apple’s export of ‘Made in India’ iPhones in the first half increased by almost one-third compared to the same period of the previous financial year to reach nearly six billion dollars (about Rs 50,451 crore).
In a Bloomberg report, citing sources with knowledge of the company, Apple’s export of iPhones from the country could exceed $10 billion in the current financial year. The company has prepared to rapidly increase manufacturing in the country through its contract manufacturers. India will be an important contributor to Apple’s plan to reduce dependence on China. The company’s three contract manufacturers assemble iPhones in their factories in South India. These include Taiwan’s Foxconn Technology and Pegatron as well as Tata Electronics.
Foxconn’s factory is near Chennai in Tamil Nadu. Its share in iPhone exports from the country is almost half. Tata Electronics, the electronics manufacturing unit of Tata Group, which is involved in businesses ranging from automobiles to software, has exported iPhones worth about $1.7 billion in the first half. Tata Electronics’ factory is in Karnataka. Last year, Tata Group bought this factory from Wistron.
Apple also plans to increase its retail stores in the country. The company’s stores opened last year at Select Citywalk in Saket, Delhi and Bandra Kurla Complex (BKC) in Mumbai have received a good response. Apple is preparing to open new stores in Delhi-NCR, Bengaluru, Mumbai and Pune. According to a media report, Apple has listed several jobs on its website in the country. These include full-time and part-time jobs. The company is expected to hire around 400 employees. The revenue of Apple stores in the country in the first year of sales was around Rs 800 crore. In this, the share of Saket store in Delhi is 60 percent.
