According to Counterpoint, India’s continued efforts to boost local manufacturing of iPhone devices appear to have paid off, as domestically manufactured iPhone shipments will grow 162% year-on-year in 2022. is.
On Tuesday, a market research firm said Apple holds 25% of the total value of the Indian smartphone market, compared to 12% in 2021. , the company said in its latest report.
Apple’s electronics manufacturing services partners Foxconn Hon Hai and Wistron were the fastest growing manufacturers among the top 10 electronics manufacturing services (EMS) players in India in Q4 2022. The company’s growth was also driven by increased exports from Apple, Counterpoint said.
Foxconn recently decided to invest an additional $500 million in its India operations to expand its operations there. Foxconn chairman Young Liu also traveled to the country earlier this month to meet with various political leaders and officials to establish better ties with New Delhi. Meanwhile, Wistron is reportedly considering selling its sole production plant in the country to the Tata Group so that the Indian salt-to-software conglomerate can start manufacturing his iPhone models. increase.
“In terms of total exports, a volume growth of 37% [year-over-year] was sighted. Moreover, the contribution of exports to total shipments of “Made in India” smartphones will reach a record high in 2022, both in terms of volume (20%) and value (30%).
The Indian government has introduced a $6.6 billion incentive program to relocate smartphone manufacturing bases. This helped Apple’s manufacturers start production lines domestically, meet domestic and international demand, and reduce their dependence on China. Samsung is also heavily participating in the government’s push for local production to earn incentives.
Domestically manufactured smartphone shipments fell 3% year-on-year, especially in the second half of the year due to lower consumer demand due to the macroeconomic slowdown. Also, shipments fell 19% last quarter due to a drop in domestic demand, especially for entry-level and mid-tier smartphones. Despite this, Counterpoint noted that shipments of smartphones made in India recorded 34% year-on-year growth in terms of value.
Image credit: counterpoint
Oppo will lead domestically manufactured smartphone shipments in 2022 with a 22% share, followed by Samsung. However, the South Korean company dominated the domestic smartphone maker’s market in the fourth quarter, with Oppo’s shipments falling 31% year-on-year due to inventory issues in the entry-level segment, an analyst firm said. .
“Increased exports from Apple, Samsung and other OEMs have led to an increase in locally manufactured shipments in 2022, somewhat offsetting the impact of lower local demand,” said a research director at Counterpoint. One Tarun Pathak said:
