*Apple Assembles $22B Worth of iPhones in India, Sales Hit $8B in FY24*
Bengaluru: Apple Inc. reported nearly $8 billion in revenue from India in FY24, with iPhones contributing the lion’s share, as the company continues to expand its footprint in the world’s fastest-growing smartphone market. Apple now commands an 8% share of India’s smartphone sector.
According to a Bloomberg report, the tech giant assembled iPhones worth $22 billion in India during the fiscal year ending March 2025—marking a 60% year-on-year surge.
This milestone reflects Apple’s strategic shift to reduce dependency on China by strengthening its manufacturing base in India.
Roughly 20% of global iPhone production now originates in India, with a significant portion coming from Foxconn’s facility in the south. Tata Group, having taken over Wistron and managing Pegatron’s local operations, also plays a pivotal role in this transition. Apple now produces its full iPhone lineup in India, including its top-tier titanium Pro models.
India exported iPhones worth Rs 1.5 trillion (approximately $17.4 billion) in FY25, with exports to the U.S. rising sharply. The uptick followed the Trump administration’s announcement of “reciprocal” tariffs in February, which led Apple to prioritize India-assembled devices for U.S. markets. However, a recent exemption on electronics, including smartphones, from these tariffs brought relief to Apple and similar tech firms.
Meanwhile, iPhones made in China still face steep cumulative tariffs of up to 145%.
Despite this pivot, Apple’s production ecosystem remains heavily tied to China, where nearly 200 suppliers are integrated into its supply chain. Bloomberg previously estimated that transitioning just 10% of production away from China could take up to eight years.
India’s growing role in Apple’s global strategy is buoyed by government incentives aligned with Prime Minister Narendra Modi’s ‘Make in India’ initiative. The Indian government has introduced new subsidies worth $2.7 billion to bolster electronics and semiconductor manufacturing.
