For the first time, Apple has started selling its devices on the same day in India as it did globally
Apple is embarking on a significant expansion of its manufacturing operations in India. According to recent reports, the company has ambitious plans to increase its production in India by over five times, aiming to reach a staggering $40 billion in the next 5 years, signifying a strategic shift in Apple’s global production strategy.
The announcement comes after Apple achieved a production milestone in India by crossing the $7 billion mark in the last fiscal year, highlighting the country’s growing importance in the company’s global supply chain. Apple’s decision to scale up production in India aligns with the Indian government’s ‘Make in India’ initiative, which encourages foreign companies to manufacture their products locally.
The expansion plan encompasses a broad range of Apple products. The company has already started manufacturing iPhones in India, and plans to start manufacturing AirPods by next year. However, they have no immediate plans to make iPads or laptops in India, as per reports.
As of 25th September, 2022, Apple achieved remarkable global sales figures, with iPhones contributing a substantial $191 billion to its revenue, while other products brought in an impressive $38.36 billion. Additionally, the wearable, home, and accessories segment saw a modest decline, reaching approximately $30 billion, according to reliable reports.
One noteworthy development is Apple’s decision to commence sales of its devices in India on the same day as their global release, which can be attributed to ‘Make in India’. A research report has recognised Apple’s dominance in the ultra-premium smartphone segment, which includes phones priced above Rs 45,000. In the first quarter of 2023, Apple secured an impressive 59% market share in this segment. India has emerged as one of the top five markets for Apple.
While Apple experienced a slight dip amounting to $156.77 billion in iPhone sales and other product segments in the first nine months of the current calendar year, the launch of the iPhone 15 series marked a resurgence in consumer interest, exhibiting a 100% growth compared to the previous iPhone 14 series.
