Apple Boosts India's Smartphone Exports Double
The arrival of Apple and a host of Apple supply chain companies has ushered in an unprecedented boom in India's electronics industry.
On Tuesday, Hispider reported in local Indian media that smartphones have become India's top five export commodities and that smartphone exports in FY23 have exceeded the full-year figure for FY22.
This is largely due to the iPhone, which Apple now produces about 7 percent of in India, and is gradually being expanded.
Currently, smartphones rank fifth in India's exports, after diesel, diamonds, jet fuel and gasoline, with $10.9 billion in exports so far this fiscal year, about all of which are generally iPhones. in fiscal 2022, smartphones rank only ninth, with annual exports of $5.4 billion.
According to Apple's original plan, India-made iPhones were only used to supply the home market, but since October last year, Apple has continued to ramp up in India and has also begun to supply other markets with India-made iPhones.
In March, Hispuider learned from market research firm Counterpoint that Apple's contribution to India's smartphone exports was as high as 30 percent if calculated by revenue. But from today's data, the value of the iPhone to "Made in India" is much greater.
In February, Apple CEO Tim Cook said:
"I'm very bullish on India, and Apple is putting a lot of effort into India."
In addition to supporting Apple's supply chain, India's vast smartphone market also provides objective incremental sales for the iPhone.
In the first quarter of this year, Apple's quarterly revenue of $94.84 billion was higher than the expected $92.6 billion, of which the "fist product" iPhone revenue of $51.33 billion, higher than expected and up rather than down.
Cook explained on the earnings call that the higher-than-expected iPhone revenue was mainly due to the Indian market.
In a call with analysts, Cook said:
"There are a lot of people in India who are moving into the middle class, and I hope we can convince some of them to buy iPhones."
In a later interview with CNBC, he added that:
"In India, the metrics for switchers (i.e., people moving from Android to iPhone) and first-time buyers look very good."
As a premium supplier of replacement screens for Apple phones, we also have a very high regard for the Indian market and can clearly feel the rising holdings of Apple phones in India in our exports to the country in recent years. There is a very good user base for different quality cell phone replacement screens from local iPhone users in India.
Hispider, as a professional manufacturer of cell phone replacement screens, not only keeps pace with the development of cell phone screens to produce the latest OLED screens, but also takes into account the user demand for cost-effective cell phone screens, LED cell phone replacement screens are also continuing to be produced.
