The demand for Made in India iPhone is expected to increase rapidly in the coming year. A leading analyst says that depending on market conditions, Made in India iPhone shipments will grow by 20 to 25 percent globally by 2024. According to the news of IANS, Ming-Chi Kuo of TF International Securities says that the share of Made in India iPhone in the total shipment of iPhone in the year 2023 is estimated to be around 12 to 14 percent.
Importance of South Asian market will increase for Apple
According to the news, at present Taiwanese giant Foxconn has 75 to 80 percent share of India’s iPhone production capacity. Kuo says that the importance of the South Asian market for Apple will increase significantly in the coming year. This is expected to change as Tata Group starts manufacturing iPhones at the acquired Wistron production line in India.
Apple can strengthen relations with the government
Ming-Chi Kuo said that by making Tata an iPhone assembler, Apple can strengthen its relations with the Indian government. This move will benefit future sales of the iPhone (Made in India iPhone) and other products in India and is essential for Apple’s growth over the next decade. Kuo also speculated that Apple would begin early manufacturing for the regular iPhone 17, which is scheduled to appear in the second half of next year.
First attempt outside China
This will be Apple’s first attempt to develop a new iPhone model outside China. Kuo estimated that Foxconn’s production capacity in Zhengzhou and Taiyuan, China, would fall by 35 percent to 45 percent and 75 percent to 85 percent, respectively, by 2024. Apart from increasing production in India, Luxshare’s rapid growth in iPhone order allocation and improvements in production line automation are also the reasons for the reduction in production scale.
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