Apple Overtakes Samsung in Indian Smartphone Exports, Boosted by Local Manufacturing

For the first time, Apple's smartphone exports from India have surpassed Samsung's. A newspaper source states that in the quarter ending in June, Apple shipped 49% of all smartphones in India, with Samsung coming in at a close second with 46%.

Since the tech giant now produces iPhones in India via contract manufacturers, this success demonstrates the company's rapid growth in domestic production there. According to the Economic Times, Apple's proportion of smartphone exports increased dramatically over the last year, from 9% of around 8 million devices in Q2 2022 to nearly 50% of the total smartphone exports in Q2 2023.

The remarkable performance can be attributed to Apple's concerted effort to increase production, primarily driven by contract manufacturers Foxconn, Wistron, and Pegatron. All three manufacturers have benefited from the Indian government's production-linked incentive scheme for smartphone manufacturing, which has encouraged Apple's manufacturing operations and export capabilities.

Meanwhile, Samsung's market share in India's export volumes has dropped from a high of 84% in Q2 2022 to a low of 45% in Q2 2023. Increased competition, changed customer preferences, shifting market trends, and a worldwide decline in demand for Android handsets are all contributing to this shift.

Apple's success in India goes beyond the country's local market; it also helps the company reduce its reliance on China by making it a key production and export hub for iPhones.

For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.