As a result, $22 billion worth of iPhones from the Cupertino, California-headquartered company were made in India during the financial year 2024-25. This is the estimated factory gate value and not the marked-up retail price.
Apple has been trying to step away from production in China since the coronavirus-induced lockdowns hurt its production.
In India, a majority of iPhones assembled are at Foxconn Technology Group’s factory, while the Tata Group’s electronics manufacturing arm, which bought Wistron Corp. and controls Pegatron Corp.’s operations, is also a key supplier.
In India, though, Apple now assembles its entire iPhone range, including the more expensive titanium Pro models, helped by state subsidies tied to Prime Minister Narendra Modi’s ambition to turn the country into a manufacturing hub.
Its market share in India is nearly 8%, where the bulk of its sales come from iPhones, reaching almost $8 billion in fiscal 2024.
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