Apple is all set to end the year with a 7% market share in the Android-dominated Indian smartphone market, according to a study.
A study by CyberMedia Research (CMR) states that the tech giant’s shipments grew by 68% year-on-year (YoY) in the first half of 2023. Further, during this period, Apple secured 6% of the Indian smartphone market by dominating the premium phone segment prices in the range of INR 50,000 to INR 1,00,000.
At a time when the CMR study attributes Apple’s growing share in the Indian market to the manufacturing boost it has received in the country, the iPhone maker is all set to launch its flagship series of iPhone 15 soon. The production of iPhone 15 started at Foxconn’s Tamil Nadu factory in August, in addition to its primary manufacturing facility in China.
The contract manufacturers of the Cupertino-based tech giant, reportedly, tripled iPhone manufacturing in India to $7 Bn in the financial year 2022-23 (FY23). Out of the total production, $5 Bn worth of smartphones were exported.
Going ahead, Apple’s contract manufacturers have ambitious plans for India.
One of its major manufacturers Foxconn has been on an expansion spree in India. It announced plans for an additional investment of $400 Mn in Telangana. This announcement came right after the manufacturer of Apple announced the commencement of construction of its $500 Mn manufacturing facility in Telangana’s Kongar Kalaan.
Further in Karnataka, Foxconn committed an investment of $1 Bn to set up a new manufacturing plant. The plant will be built on a 100-acre parcel of land in the Tumakuru area.
Apple has also signed a manufacturing deal with the Tata Group. The conglomerate is reportedly planning to take up iPhone assembly with Wistron, which is yet another vendor of Apple in India.
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