Apple's shipments of smartphones labelled "Made in India" increased by 65% in volume and 162% in value in 2022 compared to the previous year, demonstrating the size of the manufacturing capacity the company has established in India. According to research firm Counterpoint's data, the brand's value share increased, rising from 12% in 2021 to 25% in 2022.
The newest iPhones are being put together in this location by a number of Apple partners, including Foxconn, Wistron and Pegatron. According to media reports, Pegatron is considering constructing a second facility in Chennai after opening the first one six months ago.
The Counterpoint report said 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. Overall, ‘Made in India’ smartphone shipments declined 3% year-on-year in 2022 (January-December) to reach 188 million units, the report said.
Counterpoint’s senior research analyst Prachir Singh said, “The high inventory, which has impacted the overall supply of smartphones, is now being felt at the manufacturing level. However, the premiumisation trend is benefiting some of the manufacturers. Apple’s EMS (electronics manufacturing services) partners Foxconn and Wistron were the fastest growing manufacturers among the top 10 in the fourth quarter of 2022. The growth was also fuelled by increasing exports from Apple.”