India’s iPhone Exports Skyrocket: $5 Billion In Five Months, New Models On The Way

Apple’s iPhone exports from India reportedly reached $5 billion in the first five months (April-August) of FY25, marking a 54 per cent increase from $3.2 billion recorded during the same period last year.

The US technology giant's decision to manufacture the iPhone 16 Pro and iPhone Max in India is further expected to boost the value of its exports from the country significantly in the current fiscal year.

The five-month export figure for FY25 equals Apple's entire export total for FY22.

The tech giant manufactures iPhones in India through its three vendors — Foxconn, Pegatron, and Wistron (recently acquired by Tata Electronics) — all of whom manufacture the smartphones under the mobile phone production-linked incentive (PLI) scheme.

Together, these three vendors have committed to exporting $8.9 billion worth of iPhones under the PLI scheme in FY25, which marks the fourth year of the initiative.

With $5 billion already achieved, Apple's vendors have fulfilled 54 per cent of their annual export target in just the first five months of the fiscal year, Business Standard reported.

Based on past trends, iPhone exports from India typically slow down between August and October as local factories redirect their output to meet domestic demand.

This follows the global launch of the new iPhone model, which usually takes place in September each year.

On Monday (9 September), Apple launched the iPhone 16 simultaneously from its factories in both India and China

Following the launch of the new iPhones and with the onset of the festive season, especially Diwali, exports from India are projected to rise considerably between November and March, consistent with previous years.

Exports during this period tend to be 20-30 per cent higher than the previous seven months, particularly for Apple.

This year, iPhone export values are also expected to rise post-November as Foxconn begins manufacturing the more expensive Pro and Pro Max models, which have a freight on board (FOB) value 25-30 per cent higher than normal iPhones.

By the end of FY24, Apple had produced more than $14 billion worth of iPhones in India, exporting over $10 billion to regions such as Europe, West Asia, and notably, the US.

For FY25, Apple is also focusing on boosting domestic sales, which had already reached Rs 67,000 crore in FY24.

A significant portion of these revenues comes from iPhone sales.

In the Rs 1-lakh price segment, India experienced a 53 per cent growth in 2023, with just two players dominating the market — Samsung and Apple.

According to Counterpoint Research, Samsung holds a 53 per cent market share, while Apple follows with 46 per cent.

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