Apple’s ‘Made in India’ smartphone shipments rose 65% YoY in 2022
- In Reports
- 01:05 PM, Mar 31, 2023
- Myind Staff
A recent study by Counterpoint Research has revealed that Apple's "Made in India" exports have increased by 162 percent in value and 65 percent in volume year over year.
This has resulted in an increase in the brand's value share from 12 percent in 2021 to 25 percent in 2022.
The contribution of exports in "Make in India" smartphone shipments reached its highest ever in 2022, with a 20% increase in volume and 30% in value terms. However, overall "Make in India" smartphone shipments declined by 3% year-on-year in 2022 to reach 188 million units, largely due to lower demand due to macroeconomic headwinds in the second half of 2022.
In the fourth quarter of 2022, Samsung was the top smartphone manufacturer with OPPO in the second position. Oppo’s shipments dropped by 31% on a yearly basis due to inventory issues in the entry-tier segment.
The reasons for the significant growth in Apple’s shipments during the year can be attributed to the production-linked incentive scheme in which its contract manufacturers Foxconn Hon Hai, Wistron, and Pegatron are the participants. The company’s contribution in terms of value to ‘Made in India’ smartphone shipments also increased to 25% in 2022, from 12% in 2021.
Apple’s EMS (electronics manufacturing services) partners Foxconn Hon Hai, Wistron and Pegatron were among the top 10 EMS players in India in 2022 in terms of volume.
Research director Tarun Pathak stated that local manufacturing and localisation had a solid year in 2022, with increasing exports from Apple and Samsung driving locally manufactured shipments, offsetting the impact of the local demand decline.
"The increasing exports from Apple, Samsung and other OEMs drove the locally manufactured shipments in 2022 and somewhat offset the impact of the local demand decline. The recent disbursement of PLI incentives from the government as well as other initiatives, both at the central and state levels, has boosted the overall local manufacturing," Pathak told IANS.
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