Exports of Indian manufactured iPhones grew four-fold in FY23 to $5 bn: Report

New Delhi, Apr 12 (KNN) As compared to FY22, the exports of Made in India iPhones have increased about four times to USD 5 billion in fiscal year 2022-23, reported ET on Wednesday.

The smartphone produced by Apple also became the first brand to cross the USD 5 billion export mark in India.

For the first time ever in FY23 India’s overall smartphone exports crossed USD 10 billion.

Samsung accounts for USD 3.5-4 billion, the report added.

The American giant had recently announced that it would open its first retail store in the country in Mumbai on April 18.

Following up a second company-owned store will be opened in New Delhi on April 20.

Currently, China is the largest maker of iPhones in the world, and India follows it in the second spot.

India accounts for 5 per cent of the total iPhones made in the world. But it is a significant jump from 2020 when it accounted for less than 1 per cent.

Three contract manufacturers - Foxconn, Wistron and Pegatron - manufacture iPhones in India at their plants in Tamil Nadu and Karnataka.  (KNN Bureau)