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Apple Exports $6B of India-made iPhones, Up 33%; Plans iPhone 17 Assembly in India

Oct 29, 2024, 10:15 AM

Apple Inc. has significantly increased its exports of India-made iPhones, reaching nearly $6 billion in the six months between April and September 2024, a 33% rise compared to the previous year. This accounts for approximately 3% of Apple's total iPhone sales. The surge underscores the company's ongoing efforts to diversify its manufacturing operations and reduce reliance on China amid geopolitical tensions and supply chain disruptions. Exports are on track to surpass $10 billion for fiscal year 2024. Apple is expanding its manufacturing footprint in India, a market where it currently holds under 7% of the smartphone market share, dominated by Chinese brands such as Xiaomi, Oppo, and Vivo. In a notable milestone, Apple plans to begin early manufacturing work on the base model of the iPhone 17 in India next year, marking the first time such development has occurred outside of China. The iPhone 17 Pro, however, will continue to be developed in China. This strategic shift indicates Apple's commitment to building a more resilient and geographically diverse supply chain, potentially reducing its dependence on Chinese manufacturing for future iPhone models.