Apple to scale up production over five times in India to $40 billion
Apple has plans to scale up production in India by over five-fold to around $40 billion (about 3.32 lakh crore) in the next four-five years, according to government sources. The official, who did not wish to be named, said the company has crossed the $7-billion production mark in the last financial year.
An email query sent to Apple did not elicit any reply.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Applied Business AnalyticsVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitApple manufactures iPhones in India and plans to start manufacturing Airpods next year. The officer said Apple has no immediate plans to make iPads or its laptops in India.
«They don't have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels,» the officer said.
The company globally sold iPhones worth $191 billion and products worth $38.36 billion in the wearable, home and accessories segment in the financial year ended on September 25, 2022.
In the first nine months of the current calendar year, the company recorded about a 4% dip in iPhone sales at $156.77 billion and a slight decline in the wearable, home and accessories segment at $30.52 billion.
The company has become the largest exporter of mobile phones from India.
According to industry sources, sales of Apple's iPhone 15 series registered a 100% growth compared to that of the iPhone 14 series on the launch day on Friday.
Apple has launched four models
