Apple

Apple to make more smartphone models in India with investment from Wistron, Foxconn

Apple

In spite of being one of the super-premium smartphone brands, Apple has not been able to consolidate its foothold in the Indian smartphone market.

It continues to witness a dip in sales and market share in the country. If we see the figure by Counterpoint research data, It shipped 1.7 million iPhones in 2018, compared to 3.2 million in 2017.

And its market share has gone down to 1.2 per cent from 2.4 per cent in 2017.

To reinvent itself, Apple has now been planning to increase the number of manufacturing models in India through two of its manufacturers Wistron and Foxconn proposed investments, which is worth more than Rs 7,500 crore.

Ministry of electronics and information technology has already has given nod to Wistron Rs 5,091 crore investment proposal. It is now due for cabinet approval. Foxconn has also submitted proposal worth Rs 2,500 crore to ramp up its manufacturing base.

Apple plans to manufacture newer model like iPhone 8 in India. Currently, it assembles two of the older iPhone models, iPhone SE and 6S in India through Wistron unit.

To set up a new plant, Wistron has recently bought secured a 43-acre plot near Bangaluru. The company through Foxconn investment eyes to serve the local demand for latest models like the costlier iPhone X, XS and XS Max from its plant in Sriperumbudur in Tamil Nadu.

Foxconn has six dedicated production units for India’s largest smartphone player Xiaomi, which sources over 95 per cent of its local demand from the Vietnam-based firm.

Last year, Apple had requested concessions, including duty exemption on manufacturing and repair units, components, capital equipment, and consumables for a period of 15 years. It proposed relaxation in the statutory 30 percent local sourcing of components.

However, the Indian government did not completely agree with its demand. The govt instead raised the customs duty to 15 percent for electronics and mobile products. Following this iPhone maker has to raise prices across iPhone models in the country.

iPhone considers India as one of the most important markets globally. As per industry experts, the country has massive potential as the next manufacturing hub for Apple.

Apple

Apple to make more smartphone models in India with investment from Wistron, Foxconn

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