Apple’s iPhone Exports from India Surpass $1 Billion in 5 Months – Bloomberg News

Oct 4 (Reuters) – Apple Inc’s (AAPL.O) iPhone exports from India have topped $1 billion in the five months since April, Bloomberg News reported on Tuesday, reflecting the tech giant’s growing bet technology on the South Asian nation amid pressure from New Delhi for local manufacturing. .

Outbound shipments of Indian-made iPhones, mostly to Europe and the Middle East, are expected to reach $2.5 billion in the 12 months to March 2023, nearly double year-on-year until March 2022, according to the report, citing sources.

Apple started manufacturing the iPhone 13 in India earlier this year, and the company last week announced plans to manufacture the latest iPhone 14. The tech giant has been manufacturing iPhones in India since 2017.

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Devices exported from India from April to August this year include the iPhone 11, 12 and 13 models, Bloomberg said.

The report comes as Apple seeks to move some iPhone production areas from China to other markets, including India, the world’s second-largest smartphone market, where it also plans to assemble tablets. iPad.

India and countries like Mexico and Vietnam are becoming increasingly important for contract manufacturers supplying US brands as they seek to diversify production away from China, amid COVID-related lockdowns and tensions latent between Washington and Beijing.

Apple did not immediately respond to Reuters’ request for comment.

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Reporting by Rhea Binoy in Bengaluru; Editing by Dhanya Ann Thoppil

Our standards: The Thomson Reuters Trust Principles.

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