Apple has set a new record by garnering nearly Rs 60,000 crore in exports of iPhone from India in the first seven months of the current fiscal. As reported by industry data, this Cupertino-based tech giant exported iPhones worth almost Rs 60,000 crore (over $7 billion) between April and October during the ongoing financial year, almost Rs 8,450 crore worth export every month.
This season, the company exports new-generation iPhone 16 models from India besides all its new popular models of the 15 and 14 series. For the last fiscal, iPhones exported by Apple crossed $10 billion. This fiscal, the technology giant has already surpassed 70 per cent of that number with five months to go.
HT cites reports set for new export record, riding on the government's 'Make in India' and production-linked incentive schemes. Apple manufactured/assembled $14 billion of iPhones in India last fiscal, exported over $10 billion worth of devices. India iPhone exports has crossed $10 billion in 2023-24 from $6.27 billion in 2022-23.
The value of the iPhone maker's India operations was at $23.5 billion in the last fiscal FY24. In the July-September quarter, the Tim Cook-led firm achieved an all-time revenue record in India. "We continue to be excited by the enthusiasm we're seeing in India, where we set an all-time revenue record.".
Cook said, "This has been an extraordinary year of innovation at Apple." Apple has two retail stories in India — one in New Delhi (Saket) and another in Mumbai (BKC). "We can't wait to bring four new stores to customers in India," the Apple CEO announced. On the other hand, Apple reported its biggest ever quarterly shipment in India with 4 million units in the third quarter of 2024, as per an IDC report. The company also highlighted itself as the second largest online player with the highest shipped devices, including iPhone 15 and iPhone 13.
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