iPhone exports from India surge 54% to $5 bn for first 5 months of FY25

Apple's iPhone exports from India reached US$ 5 billion in the first five months of FY25, marking a remarkable 54% increase from US$ 3.2 billion during the same period last year. This surge is partly driven by Apple's decision to manufacture the iPhone 16 Pro and iPhone Max in India, which is expected to enhance export values further this financial year. Notably, the current five-month export figure matches Apple's total exports for the entire FY22. Apple collaborates with three vendors—Foxconn, Pegatron, and Wistron (now Tata Electronics)—under the smartphone production-linked incentive (PLI) scheme, with a collective export commitment of US$ 8.9 billion for FY25.

iPhone exports typically slow between August and October as factories shift focus to meet domestic demand, especially following the global launch of new models in September. However, exports are anticipated to increase significantly from November to March due to the festival season, particularly Diwali, and the introduction of higher-value iPhone Pro and Pro Max models. In FY24, Apple produced over US$ 14 billion worth of iPhones in India, with more than US$ 10 billion exported to Europe, West Asia, and the US markets. Additionally, Apple aims to boost domestic sales, which reached Rs. 67,000 crore (US$ 8.09 billion) in FY24, driven largely by iPhone sales. At the same time, the premium segment in India saw substantial growth, with Apple holding a 46% market share alongside Samsung's 53%.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.