India quadruples smartphone exports to US, China and Vietnam decline

India has quadrupled its share among smartphone exporters to the US, while the shares of China and Vietnam, the top two exporters of these items to the world’s largest economy, declined.

India’s smartphone exports to the US grew 254.3 % on year to $ 3.53 billion in April-December of this year which enabled it to get to the market share of 7.76%, up from 2% in the same period of last year, the analysis by the Ministry of Commerce and Industry showed. It also made India third biggest smartphone exporter to the US.

“After production of i-phones scaled up and an increase in overall (smartphone) production there has been a significant rise in our exports to the US,” an official who did not wish to be named commented.

During this nine-month period, China’s share in the US market declined to 70.9% from 77.7% in the year ago period.

The US smartphone imports from top five suppliers also declined during April-December his year to $ 45.1 billion from $ 49.1 billion a year ago. China exported $35.1 billion worth of smartphones to the US market in April-December, down from $38.26 billion last year.

Vietnam, the second biggest exporter of smartphones to the US, has seen its market share decline to 12% from 19%. Its shipments of phones declined to $ 5.47 billion in April- December 2023 from $ 9.36 billion in the same period of previous year.

India increasing its share in the US in face of competition from recognised electronic manufacturing leaders like China and Vietnam is an important development.

Other two smartphone exporters to the US are South Korea and Hong Kong. South Korea has also increased its sales in the US to $ 858 million from $ 432 million while Hong Kong’s sales are down to $ 112 million from $ 132 million in 2022.

Smartphones started registering their presence in the Indian export basket in 2022-23 when shipments touched $10.9 billion. This year momentum has continued as exports have already touched $ 10.5 billion in April-December, growing at 46% on year.

In 2022-23 UAE was the biggest market for India-made smartphones but by May 2023 the US had overtaken it. The UAE, however, still remains at number two with shipments of $2 billion. It is followed by the UK, Netherlands and Czech Republic. Financial Express