- Recent reports mention that both Foxconn and Wistron have applied for the PLI schemes
- Foxconn has applied for the scheme with two applications
Apple might be looking forward to make India the global export hub of iPhones. A report by the Financial Express points out the charmed by Modi’s PLI scheme for mobile phone manufacturers, both the contract manufacturers of Apple have applied for the same.
Foxconn, as a matter of fact, has applied for the scheme with two applications. The first one is in the name of Hon Hai Precision Industry Co and the second as Rising Stars Mobile India Pvt Ltd. The former will manufacture iPhones while the later will focus on manufacturing smartphones for other brands. India-based companies including Karbonn, Lava and Dixon Technologies have also applied for the same.
Wistron and Foxconn, currently, make iPhones for the Indian market only. For big players like Apple, the incentive applies on smartphones priced above $200. The market share of smartphones above $200 is only two per cent.
Economics Times had earlier reported that Wistron was looking to invest around Rs 1,300 crore in India. If some other reports are to be believed that the Taiwan-based company is also thinking on moving one-fifth of its production capacity from China to India. Wistron’s global consolidated revenue figures in 2019 stood at NT$878.26 billion.
Foxconn had emerged as the number one smartphone Electronics Manufacturing Services (EMS) company in India during 2018, according to a report by Counterpoint. Xiaomi and Nokia were its primary partners in 2018. The top three EMS companies had manufactured 82 per cent of the total Indian smartphone shipments in 2018.
Another smartphone maker who might apply for the same is BBK operated Oppo. It is to be noted here that Oppo has made significant growth both in India and other markets. BBK, under its umbrella, also operates Vivo, Realme, Iqoo and OnePlus brands. The company is steadily foraying into more verticals including TVs and smart wearables through its brands.