Tech giant Apple has breached exports of $1 billion in a short span of time, five months only.
We had previously reported that Apple will be closing the financial year 2022 with exporting phones manufactured in India worth Rs. 10,000 crore. Notably, this feat has been achieved by Apple within the first year of starting production in India under the production-linked incentive scheme.
Apple Exports Breach $1 Billion
According to some sources, the export shipments of iPhones manufactured in India, primarily to Europe and the Middle East, are expected to reach $2.5 billion in the 12 months leading up to March 2023, nearly doubling from the year leading up to March 2022.
Earlier this year, Apple began producing the iPhone 13 in India, and the corporation just last week revealed its intentions to produce the most recent iPhone 14. Since 2017, the tech giant has began producing iPhones in India.
According to Bloomberg, gadgets exported from India between April and August this year include the iPhone 11, 12, and 13 versions.
In addition to moving some iPhone manufacture from China to India, the second-largest smartphone market in the world, Apple is also intending to assemble iPad tablets there, according to the report.
Contract Manufacturers Move To India and Mexico For Diversifying Production
As contract manufacturers catering to American companies want to diversify production away from China amid COVID-related lockdowns and brewing tensions between Washington and Beijing, India and nations like Mexico and Vietnam are becoming more and more significant.
In contradiction, there has been news that Apple Inc has ditched the manufacturing after an anticipated steep uptick in demand for the new iPhone failed to materialise backing off from its plans of increasing the production of the newly-launched iPhones in the year.
Apple to Move Production Units Outside of China
In order to tame the rising Covid-19 cases in China, the country has shut down production units and activities across some of the world’s top production hubs like Shanghai, and is following anti-Covid policies there.
Lockdowns in other locations too have led to supply-chain disruptions, adding to the ongoing difficulties in the same to several Western companies.
Further, Beijing’s repressive Communist regime and its conflicts with the US are other reasons for the US tech giant to look for options to move its production units out of China.
As a result, Apple is considering shifting its hubs to India and Vietnam, as these countries at present contribute to a minor amount of Apple’s global production.
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