Made in India boom worldwide, $10 billion smartphone exports, Apple’s exports increased four times.
New Delhi: The world’s most valuable company Apple has benefited tremendously from its business in India. American company Apple exported iPhones worth five billion dollars i.e. about Rs 40,000 crore from India in the financial year 2023. This is four times more than in FY2022. Experts say that Apple iPhone is the first brand to touch the five billion dollar export figure from India. Apple has ramped up iPhone production in India in the last few years amid rising tensions between China and the US. In the financial year 2023, a total of $ 10 billion smartphones were exported from India. India has achieved this success for the first time in a financial year.
Apple exported iPhones worth $ 1.6 billion from India in the financial year 2022. Although India’s share in the total production of iPhone is still just five percent. According to trade and industry data, South Korean company Samsung (Samsung) exported 3.5 to 4 billion dollars from India in the last financial year. India is now also exporting smartphones to developed countries like UK, Italy, France, Middle East, Japan, Germany and Russia. Apple and Samsung did not respond to queries sent to it. Apple is going to open its retail store in Mumbai on 18th April and in Delhi on 20th April. For this, the company’s CEO Tim Cook is likely to visit India.
Who will be harmed by the stores
Meanwhile, retailers are apprehensive that the number of their customers may drop by 50 to 60 per cent due to the opening of Apple stores in Mumbai and Delhi. These two cities account for 20 per cent of the total annual iPhone sales. Some say that Apple will first release the stock for its stores. This may harm the rest of the retailers. However, sources in the company have dismissed this apprehension. He says that the entire retail ecosystem will benefit from the opening of Apple’s retail stores.
Earlier, Apple used to sell its products through exclusive Apple Premium partner stores, major retailers and trade and e-commerce platforms. The company says that the new retail locations will expand its business in India. From April 20, the company’s customers in India will be able to explore new products. A Mumbai-based retailer said that the company will also create experience centers for its customers in its stores. This will cause some loss to the retailers. Huge crowds are seen outside Apple stores during the launch of new products in the US and Europe.
80% customers from small towns
Navneet Pathak, general secretary of All India Mobile Retailers Association, said that the company would like to create similar hype in Delhi and Mumbai during the new launch. Existing Apple customers may want to visit these stores before purchasing a new product. Not all new products are showcased in retail stores for the sake of experience. Therefore, during the new launch, the number of customers in these stores may decrease by 50 to 60 percent. He raised the question whether the company will give enough stock to the retailers? Pathak said that Apple has not talked about this till now. Although some people do not give it much preference. He says that 80 percent of Apple’s new customers come from small towns. In such a situation, two Apple stores are not going to make much difference.
