Apple's PLI promise bears fruit: iPhone exports in Q1 hit a new milestone

Export of iPhone in touching distance of target ahead of date

Apple iPhone exports in the April-June quarter (Q1) of 2024-25 (FY25) hit a new milestone, accounting for 79 per cent of its total freight on board (FOB) value production in the country, totalling $3.8 billion, according to data provided by its vendors to the government.

With this, Apple Inc is within touching distance of fulfilling its commitment to the government under the production-linked incentive (PLI) scheme.

The commitment stipulates that 81 per cent of the FOB value of phones will be exported by the fifth or last year (2025-26) of the scheme.

In 2023-24 (FY24), it ended