New Delhi: Riding on the government’s production-linked incentive (PLI) scheme, Apple has reached all-time high iPhone export figures from India at Rs 1 lakh crore for the 10 months (April-January) in the current financial year (FY25).
According to industry data, in the month of January, the iPhone exports reached around Rs 19,000 crore, an all-time high. The overall iPhone exports from the country grew more than 30 per cent in the 10 months this fiscal (April-January 2025) compared to the same period last fiscal (Rs 76,000 crore).
“Another record performance under PLI scheme. PLI propels iPhone exports past Rs 1 lakh crore in just 10 months of FY25,” Union Minister for Railways and Electronics and IT, Ashwini Vaishnaw, posted on X social media platform on Monday.
“Overall smartphones expected to cross Rs 2.25 lakh crore in FY25,” the union minister informed. More than 325 to 330 million mobile phones a year are being manufactured in India and on average there are about a billion mobile phones in use in India.
India is a huge market for Apple and “we have achieved a December quarter growth record where the iPhone was the top selling model in the country for the October-December period of 2024,” Apple CEO Tim Cook said last month.
He further stated that the iPhone was the top selling model in India for the December quarter. Notably, iPhones registered 7 per cent India smartphone market share in 2024, rising on robust local production and growing premiumisation trend in smaller cities.
On year-on-year basis, iPhones registered 23 per cent growth and iPads an impressive 44 per cent growth in the country, according to data shared by CyberMedia Research (CMR).
In the October-December quarter (Q4) of 2024, Apple, with its aspirational image and rising footprint, entered the top 5 smartphone players in India for the first time, garnering nearly 10 per cent market share by volume. Apple’s India shipments were set to cross 11 million marks in 2024.