Employees test mobile phones on an assembly line in the mobile phone plant of Rising Stars Mobile India Pvt., a unit of Foxconn Technology Co., in Sriperumbudur, Tamil Nadu, India. Image: Karen Dias/Bloomberg via Getty Images
Since 2017, when Apple first started assembling its older version of iPhones in India, there have been many significant developments. The majority of the progress happened last year, following Apple CEO Tim Cookās India visit in April 2023. Appleās efforts to branch out its supply chain from China are finally bearing fruit in India. Through its contract manufacturers Foxconn, Pegatron, and Tata-owned Wistron, iPhone exports from the country have multiplied. Exports have reportedly surged from $6.27 billion in the fiscal year 2022ā23 to $12.1 billion in 2023ā24.
Appleās market share too has improved after the companyās decision to move its assembly lines here. Appleās market share in India currently stands at 6.4 percent, up from 4.6 percent in 2022. The company is looking at 8 percent share this year. However, to capture more share and offer the handset at a reasonable price, the Cupertino-based company will have to go beyond just assembling the iPhones here.