Apple iPhone exports from India hit record Rs 60,000 crore in April-Oct
In a new record, Apple has reached almost Rs 60,000 crore in iPhone exports from India in the first seven months of the current fiscal (FY25).
During the April-October period, the Cupertino-based tech giant exported iPhones worth nearly Rs 60,000 crore (over $7 billion), with an average of Rs 8,450 crore (nearly $1 billion) worth of exports each month in the ongoing financial year, according to industry data.
This time, the company is exporting newly launched iPhone 16 models from India, in addition to other popular models in its 15 and 14 series.
In the last fiscal (FY24), Apple exported iPhones worth over $10 billion, and this fiscal, the tech giant has already achieved 70 percent of that figure with five months to go – setting the stage for a new export record, driven by the government’s ‘Make in India’ and production-linked incentive (PLI) schemes.
Apple manufactured/assembled $14 billion worth of iPhones in India last fiscal and exported more than $10 billion of those devices.
iPhone exports from India surged to cross $10 billion in 2023-24, up from $6.27 billion in 2022-23. Overall, the iPhone maker’s India operations reached $23.5 billion in value in the last fiscal (FY24).
In the July-September period, the Tim Cook-led company set an all-time revenue record in India.
“We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” said Cook.
Apple has two retail stores in India – one in New Delhi (Saket) and the other in Mumbai (BKC). “We can’t wait to bring four new stores to customers in India,” the Apple CEO announced.
Meanwhile, Apple posted its largest-ever quarterly shipment in India, with 4 million units in the third quarter (Q3) of 2024, according to an IDC report. Apple also emerged as the second-largest player in the online channel, with the iPhone 15 and iPhone 13 as the highest-shipped devices.
