Apple's iPhone Production In India Hits Historic $13.5B Milestone, Surpassing Targets
Portfolio Pulse from Shomik Sen Bhattacharjee
Apple Inc.'s iPhone production in India has surpassed $13.5 billion, exceeding the targets of India's production-linked incentive scheme. This achievement underscores India's growing role in global supply chains and Apple's increasing market share in the country, which has risen from 2% in FY18 to 6% in FY23. Apple's revenues in India have also increased significantly, from $1.8 billion to $6.7 billion during this period. The company is expanding its network of Indian suppliers, including a unit of the Tata Group.
January 09, 2024 | 5:35 am
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Apple's iPhone production in India has exceeded $13.5 billion, surpassing the targets of India's PLI scheme. The company's market share in India has increased to 6%, with revenues growing to $6.7 billion. Apple is also expanding its network of Indian suppliers.
The news indicates a strong performance and growth of Apple in the Indian market, which is likely to be viewed positively by investors. The surpassing of production targets and the increase in market share and revenues in India suggest a robust demand for Apple's products and successful expansion efforts. This could potentially lead to a positive short-term impact on Apple's stock price.
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