Apple’s growing ties to India its first retail stores and more manufacturing are a bright spot as global smartphone sales slip and its revenue tumbles.
The industry has highlighted to the government that the domestic market for mobile phones has saturated, while the exports are growing at a fast pace, now contributing 25% of total local production. The industry, which exported $11.1 billion worth of mobile phones in FY23, wants to target the $50-billion export mark over the next few years.
Mobile Phone Exports: The industry has highlighted that 99% of all mobile phones sold in India are made in the country. This implies that unless a new subscriber comes on board to buy a smartphone or replaces an existing one, all additional production, investments and job creation are now primarily linked to exports.
Apple iPhones launched before the Apple iPhone 15 series didn’t have USB-C charging and the new regulation can hamper its domestic manufacturing plans.