With the fresh announcement, the company is now manufacturing all of its latest models in India, with two of its manufacturing partners, Foxconn and Wistron
After months of anticipation, tech giant Apple has started the production of the iPhone 13 in India at the Chennai plant of its manufacturing partner Foxconn.
The company will look to deepen its presence in India, which happens to be the world’s second-largest smartphone market behind China and to grow its market share in India.
With the fresh announcement, the company is now manufacturing all of its latest models in India, with two of its manufacturing partners, Foxconn and Wistron. Along with the two, Pegatron, the third Indian manufacturer of iPhones, will start manufacturing iPhone 12 in India.
In a statement given to ET, the Silicon Valley giant said, “We are excited to begin making iPhone 13… right here in India for our local customers.”
In the last year, Apple registered revenue of $365.8 Bn, with $191.9 Bn of that coming from iPhone sales alone. Sales of the iPad ($31.8 Bn), wearable, home and accessory devices ($38.3 Bn in 2019), and Mac devices ($35.1 Bn in 2019) also contributed to its bottom line.
Made-in-India iPhones make up about 70% of the company’s mobile phone sales in the country, in part due to the government’s Production-linked incentive scheme (PLI). The PLI scheme for large scale electronic manufacturing gives a financial incentive for the domestic manufacturing of mobile phones, electronics components and advanced therapy medicinal products (ATMPs).
The government plans to give incentives of up to INR 40,951 crore over a period of five years. But even this 70% coming from Foxconn and Wistron does not hold a candle to the production that happens in China.