Apple aims to produce 25% of all its iPhones in India by 2028
₹1 trillion revenue from India operations," said Faisal Kawoosa, chief analyst and founder at research firm Techarc. Emails to Apple, Foxconn and Tata Electronics did not elicit a response till press time. Analysts tracking Apple and the India market said that building a local ecosystem would be crucial for raising the production levels.
Apple has been expanding its base of suppliers in India, which now includes Flex Ltd, Jabil Inc, Cheng Uei Precision Industry Company Limited (Foxlink), Interplex Holdings Pte. Ltd, Lingyi iTech (Guangdong) Company, ON Semiconductor Corporation, Shenzhen YUTO Packaging Technology Company Limited, TDK Corp, Zhen Ding Technology Holding Limited, besides Tata Electronics and Foxconn. A third person privy to the plans added that 40-100 suppliers would form part of the supply chains that Apple intends to create within India over the years.
“While they have about 400 odd suppliers globally, not all would be able to come to India. They want to create local suppliers that can scale up and form an alternative supply system to China," the person said, asking not to be named. Mint had reported recently that India could be Apple’s third-largest market by sales, after China and the US, in three years.
The iPhone maker’s India revenue is expected to rise 20% in FY25, after having grown by about 70% in FY24 to reach an estimated $10 billion, and having reported “a record March quarter for iPhones, with a shipment volume growth of nearly 20% year-on-year," as per Navkendar Singh, associate vice-president at market researcher International Data Corp. (IDC) India. India’s importance as a critical market has been underlined by CEO Tim Cook’s recent remarks in the earnings call last month where he said that
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