Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 21, according to an analysis released by Bank of America (Bank of America), India is expected to account for at least 18% of iPhone production in fiscal year 2025, and sales in the Indian market are expected to rise to more than 5%.

The report points out that many Apple suppliers, including Wittronic, Foxconn and Pegatron, have set up factories in India, and that the related mobile phone incentive program will further increase the production capacity of iPhone in India.

The report says India's targeted policies have further stimulated the development of India's mobile phone industry. Within two years of implementing the PLI program, iPhone's exports to India expanded rapidly, from 110 billion rupees in fiscal year 2022 to 400 billion rupees in fiscal year 2023.

Since February 2023, iPhone exports have accelerated further, with monthly exports exceeding US $1 billion. Encouraged by these policies, Apple will further increase its iPhone production capacity in India and diversify its supply channels.

While promoting manufacturing, Apple has also stimulated demand for iPhone in the Indian market through policies such as the introduction of a new Apple Store.

India currently accounts for 3.6 per cent of Apple's global iPhone sales, which is expected to rise to more than 5 per cent in fiscal 2025, CTOnews.com quoted Bank of America as saying.

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