Apple Inc. produced over $7 billion worth of iPhones in India during the last fiscal year, thereby tripling its annual production in the country. This comes as the company transitions away from its reliance on Chinese production.
Now, Apple manufactures around 7% of its iPhones in India, which is the world’s fastest-growing smartphone manufacturing hub. the U.S.-based tech company is expanding its operations in India by adding more partnerships with companies operating in the region such as Foxconn Technology Group and Pegatron Corp.
In total, Apple exported $5 billion worth of iPhones in the year ended March 2023—four times the previous annual period. The company is also planning to start manufacturing its next iPhone in India at the same time as it begins production in China, likely in the fall of 2023.
Should this plan reach fruition, it will be the first time that Apple begins assembling a new line of iPhones concurrently in two countries. If the company persists with its expansion efforts, a quarter of all of its iPhones could be assembled in India by 2025.