A new analysis by Bank of America shows Apple is expected to move at least 18% of global iPhone manufacturing to India by 2025.
The Hindu Businessline says the estimates are based on targets set by Apple's manufacturers, such as Foxconn, Pegatron, and Wistron.
Apple opened its first offline Apple Store in India in April and hopes to improve domestic demand in the country by increasing production there.
The report by Bank of America states that India currently contributes to around 3.6% of Apple's global iPhone sales. Bank of America estimates that an increase in production in the country could see that figure rise to 5% by 2025.
“India’s targeted policies are capitalizing on this opportunity: within just two years of the PLI scheme, iPhones’ exports from India scaled up to Rs 400 billion (~US$5bn) in FY23 vs Rs 110 billion in FY22 and would accelerate further as it has already reached a run-rate of $1 billion of exports per month since February 2023. Apple manufactures the latest models of iPhones in India, a sign of growing confidence in India’s potential to be one of the large manufacturing destinations, as it aims to diversify manufacturing outside China,”
Apple, alongside Samsung, contributes to 80% of India's mobile exports showcasing a growing industry in an emerging market.
The iPhone 15 is on the horizon
The iPhone 15 is likely to release in September this year and with the next generation of iPhones approaching, Apple wants to make sure that production goes as smoothly as possible.
The iPhone 15 is said to introduce the Dynamic Island to the full iPhone lineup alongside the launch of iOS 17. Rumors suggest the new iPhone will also introduce a periscopic lens to allow for better photography on the Pro models.
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