Indian iPhone fever: early morning queues, sales doubling, local production or fivefold expansion
"Apple plans to increase its output in India to more than $40 billion in the next four to five years," a government source said. It topped $7 billion last fiscal year. ”
Wait times for buying the iPhone 15 Pro and Pro Max in India have continued until the end of October, similar to the trend in China and the United States. According to industry insiders, the first day sales of the iPhone 15 series in India are expected to increase by 100% compared with the iPhone 14 series.
On the launch day of the iPhone 15 series, consumers lined up in front of Apple stores in Mumbai.
According to Indian government sources, Apple plans to more than fivefold increase its production in India in the next four to five years, with an output value of more than $40 billion. Last week, Apple sold the "Made in India" iPhone for the first time on the first launch day of the iPhone, and the iPhone 15 series was popular with Indian consumers.
"Apple plans to increase its output in India to more than $40 billion in the next four to five years," the Press Trust of India (PTI) quoted an unnamed official as saying on September 24. It topped $7 billion last fiscal year. ”
Apple did not respond to inquiries. The company is now looking to rapidly increase production in India, reducing its reliance on China as a single production location and reducing risk in the supply chain of its most important products. Apple is already producing the latest iPhone in India and plans to start producing Airpods with wireless headphones starting next year. Apple has no current plans to make iPads or laptops in India, the officials said.
"They don't have any plans to participate in the IT hardware PLI (Production Hook Incentive Program). They may join at a later stage, but for now their focus is on expanding existing production levels. The official said. The Production-Linked Incentive Scheme is a financial incentive proposed by the Government of India to boost domestic manufacturing and attract investment in the electronics value chain.
Apple has just launched four models of the iPhone 15 series, with two versions of the iPhone 15 and 15 Plus produced in India. This is the first time in Apple's history that an "Make in India" iPhone has been sold on its launch day. Several local celebrities posted unboxing clips pointing out that it was an Indian-made iPhone.
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According to market research firm Counterpoint Research, India is currently one of Apple's top five markets. According to market intelligence firm IDC, Apple is the largest player in India's smartphone market above $800, accounting for 67% of the market in the first half of the year.
Apple is expected to take a larger share of smartphone sales in India, with shipments of high-end iPhone 15 Pro and Pro Max models accounting for a larger share. The waiting time to buy both models in India has continued until the end of October, similar to the trend in China and the United States. According to industry insiders, the first day sales of the iPhone 15 series in India are expected to increase by 100% compared with the iPhone 14 series.
Videos and photos showed consumers lining up outside Apple stores in New Delhi and Mumbai in the early hours of the morning. Rahul, the first customer of the day at the Apple Store in New Delhi, bought the iPhone 15 Pro Max. "I started queuing at 4am and bought the phone. I have an iPhone 13 Pro Max and an iPhone 14 Pro Max. After the release of the 15 series, I wanted to buy the iPhone 15 Pro Max before anyone else. He told Indian media outlet Asia International News (ANI). A customer named Aan flew in from out of town to buy it.
Nabila Popal, research director at IDC, said: "India's share of the premium smartphone market has climbed significantly from 0.8% of the total market in 2019 to 6.1% in the first half of 2023, thanks in large part to Apple's success. ”
In addition to local sales, Apple has also become India's largest exporter of mobile phones.
The Indian government, under Prime Minister Narendra Modi, has been hoping to become a high-end manufacturing hub through fiscal incentives. Rajeev Chandrasekhar, India's deputy minister of technology, earlier told Bloomberg Television that India hopes to expand its electronics industry to $300 billion by 2026 due to increased smartphone production and global efforts to reduce supply chain risks.