Mobile phone exports from India cross Rs 45,000 cr in April-Aug period, Apple leads
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In a fillip to ‘Make in India’ initiative, India saw mobile phones exports worth $5.5 billion (over Rs 45,000 crore) in the April-August period in the ongoing fiscal year (FY24), government and industry data showed on Wednesday.
As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), accessed by IANS, the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.
According to industry sources, Apple led the India-made phone exports in the April-August period, surpassing more than 50 per cent of the total estimated figure for the first time, followed by Samsung.
In the June quarter, Apple shipped nearly 50 per cent of the country's total 12 million smartphone shipments, as compared to Samsung's 45 per cent export, sources told IANS.
This is the first time Apple has surpassed its South Korean counterpart Samsung in smartphone export volumes from the country, as it saw robust iPhone 15 series sales and demand which was over 100 per cent (or 2 times) as compared to last year. India is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year, with Apple leading the market with more than 50 per cent in FY24.
Driven by domestic manufacturing, Apple iPhones are also set to garner 7 per cent market share in the Android-dominated smartphone market this year, according to latest data. Apple iPhone shipments grew 68 per cent (year-on-year) in the first half of this year in the country.
In the first half, Apple secured a 6 per cent market share in the Indian smartphone market and dominated the super-premium smartphone segment (priced between Rs 50,000-Rs 100,000) with a robust 63 per cent market share, according to market research firm CyberMedia Research (CMR).
For the first time, Apple sold India-made iPhone 15 and 15 Plus on the first day of its global sales, with exporting those units to a few other markets as well. There are estimates that the iPhone 15 shipments in the launch quarter, which heralds the massive festive season in India, will hover around 65 per cent, driven by an increased ‘Make in India’ initiative.
