SUMMARY
Apple is set to launch the latest iPhone in India in mid-September, cutting the delay short by several days
Given the fact that Foxconn has already started manufacturing the iPhone 15, the delay, if any, will be only a few days
35% of all electronics exports and 66% of total mobile exports in the first quarter of FY24 were iPhones during the June quarter of FY24
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Apple is contemplating unveiling the iPhone 15 around the same time (September 12th) in India as its global launch, reducing the lag significantly.
According to sources cited by the ET, Apple is set to launch the latest iPhone in India in mid-September, cutting the delay short by several days. The Cupertino-based tech giant also launched the iPhone 14 in India at the same time as the world, though the Pro models were introduced to India almost three weeks later.
With India emerging as a key manufacturing hub for iPhones, Apple might launch its latest model in the country simultaneously with the rest of the world. Media reports from last month also suggested that Foxconn has already started manufacturing the iPhone 15 in its Chennai plant.
Foxconn had also begun producing the iPhone 14 within ten days of the global launch, though it took a month for made-in-India iPhones to reach the local market.
This year, since Foxconn has already started manufacturing the iPhone 15, the delay, if any, will be only a few days, per the people cited above.
Apple’s PLI-Boosted Manufacturing In India
The manufacturing boost in India comes as the country already accounts for 7% of Apple’s global production, up from less than 1% before 2021 and the start of the production-linked incentive (PLI) scheme for smartphones.
Even though it is a carrot-and-stick situation, Apple has become the largest smartphone exporter in India. In 2022-23, Apple manufactured over $7.5 Bn of iPhones in India, of which around $5 Bn were exported, making Apple the country’s single largest mobile phone exporter.
Apple’s bullishness also pushed India’s mobile phone exports to over $11.1 Bn, a 91% increase over the last financial year.
Foxconn, Wistron and Pegatron, three of Apple’s contract manufacturers active in India, have also committed exports of INR 61,000 Cr in FY24 for the third year of the PLI scheme for smartphones. The companies are also well on their way to achieving the milestone – the June quarter of FY24 saw iPhone exports cross INR 20,000 Cr, nearly five times higher on-year.
The iPhone has become the single largest contributor to electronics exports from India; 35% of all electronics exports and 66% of total mobile exports in the first quarter of FY24 were iPhones.
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