Smartphone exports set to hit $20 billion in FY25, driven by surge in iPhone sales
smartphone exports in FY25, on the back of rising iPhone exports. In the last financial year, smartphone exports stood at $15 billion, with Apple contributing nearly $10 billion.
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As per industry data, smartphone exports in the FY25 fiscal have already crossed $12 billion till November. The data for December is yet to be calculated but the industry is on path to achieve the $20 billion mark in FY25.
In the calendar year 2024, Apple exports have reached $12.8 billion, and the figure is likely to go up for FY25, which ends on March 31.
“Target to cross $20 billion smartphone exports in FY25,” Electronics and IT Minister Ashwini Vaishnaw said on social media platform X Monday while highlighting ET’s report on iPhone exports.
As per Counterpoint Research, the global smartphone market returned to growth in 2024 after two consecutive years of annual declines. “Global smartphone sales grew 4% YoY in 2024, as consumer sentiment fared better than in previous years following macroeconomic improvements. Smartphone sales in 2023 were the lowest in a decade,” Counterpoint said.
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