Apple is planning to scale up production in India by over five-fold to around $40 billion in the next four-five years. Moreover, the company has surpassed the production mark of $7 billion in the previous financial year.
Recently, Apple has released four models in the iPhone 15 series, wherein the two variants named the iPhone 15 and iPhone 15 Plus are manufactured in India. Additionally, Apple plans to start manufacturing Airpods in 2024. However, it has no immediate plans to make iPads or its laptops in India.
The company reported a 4 per cent drop in iPhone sales at $156.77 billion in the first nine months of 2023, as well as a minor reduction in the wearable, home, and accessories segment at $30.52 billion. However, it has become the largest exporter of mobile phones from India.