In a significant boost to India’s Make in India initiative, the country witnessed a surge in mobile phone exports, reaching an impressive $5.5 billion (over Rs 45,000 crore) during the April-August period in the ongoing fiscal year (FY24), according to government and industry data.
Department of Commerce and the India Cellular and Electronics Association (ICEA) estimated the mobile phone exports for the April-August period at $5.5 billion, as opposed to $3 billion (about Rs 25,000 crore) during the same period in FY22-23.
Industry sources indicated that Apple played a pivotal role in leading India-made phone exports during this period, surpassing more than 50 percent of the total estimated figure for the first time. Following closely was Samsung.
During the June quarter, Apple shipped nearly 50 percent of the country’s total 12 million smartphone shipments, compared to Samsung’s 45 percent export.
This marked the first time Apple surpassed Samsung in smartphone export volumes from India. The success can be attributed to robust sales and demand for the iPhone 15 series, which saw an impressive increase of over 100 percent compared to the previous year. India is anticipated to exceed Rs 1,20,000 crore in mobile phone exports for the current fiscal year, with Apple leading the market with more than 50 percent in FY24.
Apple iPhones are set to garner a 7 percent market share in the Android-dominated smartphone market this year, driven by domestic manufacturing and a 68 percent year-on-year growth in Apple iPhone shipments during the first half of the year.
In the same period, Apple secured a 6 percent market share in the Indian smartphone market, dominating the super-premium smartphone segment (priced between Rs 50,000-Rs 100,000) with a robust 63 percent market share, according to market research firm CyberMedia Research (CMR).
For the first time, Apple sold India-made iPhone 15 and 15 Plus on the first day of their global sales and exported these units to a few other markets as well. It is estimated that iPhone 15 shipments in the launch quarter, coinciding with the festive season in India, will hover around 65 percent due to the increased impetus on the Make in India initiative. Telecomlead