Shipments of iPhone made in India surged 162% in value terms

Apple’s shipments of locally-made iPhones in India grew 162% year-on-year by value in 2022, according to market researcher Counterpoint. The company now holds 25% of the total value of the smartphone market in the country, compared to 12% in 2021. Apple’s Foxconn Hon Hai and Wistron were two of the fastest-growing electronics manufacturing service players, and are both profiting from increasing exports from Apple. Apple’s investment in Indian manufacturing was helped by the government’s incentive programme to relocate smartphone manufacturing, aimed at reducing reliance on China.

However, a macroeconomic slowdown led to a year-on-year drop of 3% in total locally-made smartphone shipments in India in 2019, with a 19% drop in the last quarter due to reduced demand, particularly for entry-level and mid-tier smartphones. Nonetheless, India-made smartphones enjoyed a 34% year-on-year growth in terms of value. Oppo led the shipments of locally-manufactured smartphones in the country in 2019 with a 22% share, followed by Samsung. However, Oppo’s shipments declined by 31% year-on-year due to inventory issues in the entry-level segment. 

Foxconn recently invested an additional $500m in its Indian business to expand its local operations, and chairman Young Liu visited the country to meet political leaders and officials. Wistron is also looking to sell its production plant in India to the Tata Group to let the Indian conglomerate start manufacturing iPhones. Samsung has contributed significantly to India’s local production push by the government.



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