The tech giant aims to achieve the target within the next two to three years, with additional tens of millions of units planned after that, reports the Wall Street Journal, citing people close to the development.
If Apple achieves this target, India would account for a quarter of global iPhone production. China will still remain the largest iPhone producer, the report mentioned.
Apple is facing an uphill battle as it plans to shift its production out of China.
Its main supplier Foxconn plans to build more factories in India, as Tata Group now gears up to reportedly build one of India’s largest iPhone assembly plants.
India saw mobile phones exports worth $5.5 billion (over Rs 45,000 crore) in the April-August period in the ongoing fiscal year (FY24), according to government and industry data.
As per estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), accessed by Ajit Weekly News, the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.
Apple led the India-made phone exports in the April-August period, surpassing more than 50 per cent of the total estimated figure for the first time, followed by Samsung.
In the June quarter, Apple shipped nearly 50 per cent of the country’s total 12 million smartphone shipments, as compared to Samsung’s 45 per cent export, sources had told Ajit Weekly News.
India is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year, with Apple leading the market with more than 50 per cent in FY24.
–Ajit Weekly News
na/prw
News Credits – I A N S
