Business

Apple’s ‘Made in India’ smartphone shipments rose 65% YoY in 2022

‘Made in India’ shipments from Apple grew 65% YoY by volume and 162% YoY by value, taking the brand’s value share to 25% in 2022, up from 12% in 2021

PGurus Newsdesk

March 29, 2023

‘Made in India’ shipments from Apple grew 65% YoY by volume and 162% YoY by value, taking the brand’s value share to 25% in 2022, up from 12% in 2021

Apple’s EMS partners Foxconn Hon Hai, Wistron, and Pegatron were among the top 10 EMS players in India in 2022

According to a new report, Apple‘s ‘Make in India‘ shipments saw a 65 percent growth by volume and a 162 percent leap by value in 2022 compared to 2021. This success has increased the brand’s value share from 12 percent to 25 percent.

The contribution of exports in ‘Make in India’ smartphone shipments reached the highest ever in 2022 both in volume (20 percent) and value terms (30 percent), according to Counterpoint Research.

Overall, ‘Make in India’ smartphone shipments declined 3 percent YoY in 2022 (January-December) to reach 188 million units. The major factor behind this decline was the softening of consumer demand due to macroeconomic headwinds, especially in the second half of the year.

“Apple’s EMS (electronics manufacturing services) partners Foxconn Hon Hai and Wistron were the fastest growing manufacturers among the top 10 in Q4 2022. The growth was also fuelled by increasing exports from Apple,” said senior research analyst Prachir Singh.

In Q4 2022, Samsung emerged as the top smartphone manufacturer, ahead of OPPO whose manufacturing shipments declined 31 percent YoY due to inventory issues in the entry-tier segment.

“Apple’s EMS partners Foxconn Hon Hai, Wistron, and Pegatron were among the top 10 EMS players in India in 2022 in terms of volume. In terms of value, Foxconn Hon Hai and Wistron led the EMS landscape,” said Singh. Both of these manufacturers also received the PLI incentive in the recent disbursements.

Among OEMs, OPPO led the ‘Made in India’ smartphone shipments in 2022 with a 22 percent share, followed by Samsung.

Research Director Tarun Pathak said that overall, 2022 has been a good year in terms of manufacturing and localization in India.

“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 and other initiatives, both at the central and state levels, has boosted the overall local manufacturing,” Pathak noted.

Going forward, we may see the country reaping the benefits of the PLI scheme thanks to increasing exports from Apple and Samsung. The government will focus on leveraging geopolitics and improving local infrastructure to attract more investment.

[With Inputs from IANS]

PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views

For all the latest updates, download PGurus App.