Apple’s Push: India’s Smartphone Exports Hit $11.1 Bn
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Apple’s Push: India’s Smartphone Exports Hit $11.1 Bn

Apple To Expand India Production To $40 Bn In Over Next 4-5 Years: Report

India’s smartphone exports more than quadrupled to USD 11.1 billion (approximately Rs 91,000 crore) in 2022-23 (FY23) from USD 5.48 billion (Rs 45,000 crore) the previous year, according to figures from the India Cellular and Electronics Association (ICEA).

“With the doubling of smartphone exports to over Rs 90,000 crore, India is well on its way to becoming a leader in the global mobile device market,” said Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw.

On the other hand, despite the government prodding Chinese companies to export more, smartphone sales declined by 26 per cent in FY23, from USD 214 million in FY22 to USD 157 million in FY23.

According to the report, Chinese companies accounted for only 1.35 per cent of total smartphone shipments in FY23.  Chinese exports were not only tiny but skewed in favour of just one business, Lenovo, in FY23. Lenovo exported Motorola phones via its vendor, accounting for more than 80 per cent of total Chinese exports. Oppo, Vivo, and Xiaomi were among the others.

When it comes to the home market, however, Chinese firms rule the roost, jointly controlling more than 70 per cent of it, with annual revenues of more than USD 20 billion from Indian sales.

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