The world’s leading smartphone manufacturer, Apple, has plans to increase its production by five times in India. News agency PTI (Press Trust of India) reported that the iPhone maker is all set to scale up its production up to $ 40 billion (3.32 lakh crore) in India. As per PTI’s report, Apple surpassed the $7 billion production mark in the previous financial year.
“Apple has plans to increase production in India to over $40 billion in the next 4-5 years. It has crossed $7 billion in the last fiscal,” the PTI official said.
Apple manufactures iPhones in India and wants to begin producing AirPods next year. However, the executive stated that the company has no imminent intentions to manufacture iPads or laptops in India.
“They don’t have any plans to participate in IT hardware PLI. They may come at a later stage, but as of now, their focus is to scale up existing production levels,” the officer said.
In the fiscal year that concluded on September 25, 2022, Apple sold iPhones worth $191 billion and wearable, home, and accessories items for $38.36 billion worldwide.
Apple registered a 4% decline in iPhone sales at $156.77 billion in the first three quarters of the current financial year and a minor dip in the accessories and wearable category at $30.52 billion.