Apple & Samsung Exported Rs 40,000 Crore Of Smartphones From India: Apple Can Beat Samsung Very Soon!
Apple is in fast pace catching up with Samsung in India as far as smartphone exports from the country are concerned.
Apple was not far behind at $2.2 billion at the same time Samsung’s smartphone exports in value stood at around $2.8 billion for the April-October period.
Apple Scaling Up Exports In India
It is noteworthy here that the scaling up of exports by Apple is due to the fact that the iPhone maker held a miniscule share a year ago.
With this speed, the iPhone maker would surpass the South Korean rival by the next fiscal.
As it is, the smartphone selling market is witnessing an uproar as the total mobile phone exports during April-October 2022 stood at $5 billion which is up 127% from the year-ago period.
Center’s PLI Scheme Supporting Smartphone Production In India
When it comes to Apple and Samsung, now both the companies are manufacturing smartphones in the country under the government’s production-linked incentive (PLI) scheme.
In case of Apple, its phones are being manufactured by three of its contract manufacturers including Foxconn, Pegatron and Wistron.
The total mobile phone exports from India stood at $2.2 billion during April-October 2021.
Interestingly, 90% of this was from Samsung ($1.98 billion).
We can see that Apple’s share was low at only 10% ($220 million) but it is justified as it started production and exports in full swing only in August 2021.
Although, Samsung began the same from August 2020, but Samsung qualified for PLI in FY21.
On the other hand, Apple couldn’t due to Covid-related disruptions in the supply chain.
Samsung didn’t have to face any such disruption as it already had a running domestic production in the country.
From the government side, they later gave an additional year to smartphone players under the PLI scheme to make up for the losses in Covid-hit 2020.
According to this, in a six-year time-frame, companies can choose a five-year period to meet the incremental production and sales target specified under the PLI scheme.
In the case of Samsung, the period is from 2020 till 2025, for Apple it is from 2021 till 2026.