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.