iPhone Exports From India Hit Record, Bolster Hopes Of China's Asian Rival In US Tech Supply Chain Race
Portfolio Pulse from Shomik Sen Bhattacharjee
In May, iPhone exports from India reached a record $12.22 billion, contributing to the country's total smartphone exports of $1.46 trillion. This growth has sparked hopes of attracting more US companies to move their supply chains to India. Apple's success in India will be used as a model to persuade other American companies during Indian Prime Minister Narendra Modi's visit to the United States.
June 19, 2023 | 7:17 am
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Apple's iPhone exports from India reached a record $12.22 billion in May, contributing to the country's total smartphone exports of $1.46 trillion. This growth may attract more US companies to move their supply chains to India.
The record iPhone exports from India indicate Apple's success in establishing the country as a significant hub for iPhone production. This success may encourage other US companies to consider moving their supply chains to India, potentially benefiting Apple's business and stock price in the short term.
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