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Friday, December 20, 2024 | 02:03 AM ISTEN Hindi

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India to tap 12% of global iPhone production in FY24, up from 9% earlier

Apple crosses PLI target of $8.9 bn this financial year

Apple, Apple phones, iPhones
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Photo: Bloomberg

Surajeet Das Gupta New Delhi

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Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company’s vendors and the government. This would account for around 12 per cent of Apple’s global iPhone production—higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third 
year of the PLI (production-linked incentive) scheme.
 
The current numbers capture the trend. Apple, through its three vendors —Foxconn Hon Hai, Pegatron and Wistron (now Tatas)—has produced iPhones with an FOB value of $9.4 billion in the country during

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