You’re reading the Apple Newsroom

Apple generated a quarter of all “Made in India” smartphone revenue in 2022

Omar Moharram
Omar Moharram - Senior Editor
2 Min Read

Apple strongly benefitted from local iPhone manufacturing

Quick Hits
  • iPhone sales and revenue in India grew 65% and 162% respectively in 2022
  • iPhone revenue stood at 25% of the Indian market
  • Indian-made iPhone exports grew 37% in 2022
  • Apple suppliers now among top 10 contract manufacturers in India

Apple’s renewed commitment to India is starting to pay off. The company reportedly drastically increased its sales presence in the country volume and revenue-wise in 2022, according to a new report by Counterpoint Research.

The report explains that local “Made in India” shipments for the iPhone increased by 65% in 2022 compared to 2021. Generated revenue drastically increased too, and is up 162% in the same timeframe. As a result, Apple generated 25% of all Indian-made smartphones revenue in 2022, effectively doubling its 12% share from a year earlier.

This is despite overall Indian-made smartphone shipments declining in 2022, registering a 3% drop compared to 2021. The report alludes this decline to “softening of consumer demand due to macroeconomic headwinds”. Revenue still grew, however, and was up 34% year-over-year on the back of “increasing premiumization coupled with the increasing exports of premium smartphones”.

“Made in India” iPhones are not only sold locally in the country, as Apple began exporting to other regions outside India. Indian-made iPhone exports grew 37% in 2022 YoY, adds the report.

Apple’s partner foxconn reported strong growth – counterpoint research

Apple’s contract manufacturers also reported strong growth. The report explains that Foxconn and Wistron were among the fastest growing top 10 manufacturers in Q4 2022. Pegatron, Foxconn, and Wistron are now among the top 10 contract manufacturers in India in shipments-wise. Foxconn took the top spot out of all contractors volume-wise in the same time period.

The news come as Apple and its partners are rapidly expanding their footprint in the country. Apple is expected to open India’s first Apple Store locations before the second half of 2022. Foxconn plans to start making AirPods in India for the first time ever, while Pegatron is ramping up efforts to open its second iPhone manufacturing facility in the country.

Share this Article

Editor's Pick

Supercharged is not just another news outlet. We’re a platform on a mission to offer personalized and ad-free news directly to you. Discover more of Supercharged.

You’re reading the Apple Newsroom

  • Loading stock data...

Apple generated a quarter of all “Made in India” smartphone revenue in 2022

Omar Moharram
Omar Moharram - Senior Editor
2 Min Read
Quick Hits
  • iPhone sales and revenue in India grew 65% and 162% respectively in 2022
  • iPhone revenue stood at 25% of the Indian market
  • Indian-made iPhone exports grew 37% in 2022
  • Apple suppliers now among top 10 contract manufacturers in India

Apple’s renewed commitment to India is starting to pay off. The company reportedly drastically increased its sales presence in the country volume and revenue-wise in 2022, according to a new report by Counterpoint Research.

The report explains that local “Made in India” shipments for the iPhone increased by 65% in 2022 compared to 2021. Generated revenue drastically increased too, and is up 162% in the same timeframe. As a result, Apple generated 25% of all Indian-made smartphones revenue in 2022, effectively doubling its 12% share from a year earlier.

This is despite overall Indian-made smartphone shipments declining in 2022, registering a 3% drop compared to 2021. The report alludes this decline to “softening of consumer demand due to macroeconomic headwinds”. Revenue still grew, however, and was up 34% year-over-year on the back of “increasing premiumization coupled with the increasing exports of premium smartphones”.

“Made in India” iPhones are not only sold locally in the country, as Apple began exporting to other regions outside India. Indian-made iPhone exports grew 37% in 2022 YoY, adds the report.

Apple’s partner foxconn reported strong growth – counterpoint research

Apple’s contract manufacturers also reported strong growth. The report explains that Foxconn and Wistron were among the fastest growing top 10 manufacturers in Q4 2022. Pegatron, Foxconn, and Wistron are now among the top 10 contract manufacturers in India in shipments-wise. Foxconn took the top spot out of all contractors volume-wise in the same time period.

The news come as Apple and its partners are rapidly expanding their footprint in the country. Apple is expected to open India’s first Apple Store locations before the second half of 2022. Foxconn plans to start making AirPods in India for the first time ever, while Pegatron is ramping up efforts to open its second iPhone manufacturing facility in the country.

Share this Article
Secured By miniOrange