Apple's iPhone Exports From India Skyrocket To A Whopping $5B
Portfolio Pulse from Shomik Sen Bhattacharjee
Apple Inc.'s (NASDAQ:AAPL) iPhone exports from India have soared to $5 billion from April to October, marking a 177% increase from the previous year. This growth is attributed to Apple's manufacturing under India's PLI program, with iPhones now comprising 62% of India's smartphone exports. Local company Tata Electronics is set to supply iPhones after acquiring Wistron's assembly lines. The shift in Apple's manufacturing strategy highlights India's rising role in the global smartphone market.
November 23, 2023 | 12:02 pm
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Apple's iPhone exports from India have significantly increased, indicating strong international demand and successful integration of India into Apple's supply chain.
The substantial increase in iPhone exports from India suggests a positive impact on Apple's revenue and reflects the success of its manufacturing strategy in the region. This could lead to increased investor confidence in Apple's supply chain diversification and its ability to meet international demand, potentially driving the stock price up in the short term.
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