New Delhi: In yet another success story of India’s local manufacturing push, iPhone maker Apple has achieved record exports numbers in the April-June quarter in the country, reaching around $3.8 billion.
Riding on the government’s production-linked incentive (PLI) scheme, Apple reached a new all-time high in the Q1 FY25, according to industry data, as manufacturers continue to look at the ‘China + 1 business strategy’ to avoid investing only in the neighbouring country and diversify business into other territories.
In the last fiscal (FY24), the Cupertino-based tech giant saw its sales hitting new highs amid increased manufacturing and a growing premiumisation trend.
The tech giant saw robust around $8 billion sales in India in the last fiscal — a nearly 33 per cent surge (on-year).
The growth came amid the premiumisation trend that has solidified in the world’s second-largest smartphone market.
According to industry estimates, iPhone shipments are projected to increase by over 20 per cent this year on the back of domestic manufacturing support and strong distribution.
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