According to a recent research, shipments of “Made in India” smartphones increased 34% year over year in terms of value.
Apple’s shipments of “Made in India” products increased by 162% in value and 65% in volume in 2022. According to a report by Counterpoint Research, the company’s value share increased from 12% in 2021 to 25% in 2022.
Foxconn, Hon Hai, and Wistron were the top two fastest-growing manufacturers among the top 10 in Q4 2022, according to senior research analyst Prachir Singh, who works with Apple’s EMS (Electronics Manufacturing Services) partners. Even the PLI incentive was given to these two producers in the most recent payouts.
The survey also shows that shipments of “Made in India” smartphones increased 34% year over year in terms of value.
The contribution of exports to shipments of “Made in India” smartphones “hit the highest ever in 2022, both in volume terms (20%) and value terms (30%),” according to the research.
Shipments of “Made in India” smartphones as a whole did, however, decline by 3% in 2022. According to the research, one of the main causes was the weakening of consumer demand as a result of “macroeconomic headwinds,” particularly in the second half of the year. Due to a fall in local demand, particularly in the entry-level and mid-level pricing groups, shipments declined by 19% in Q4 2022.
With a 22% share, Oppo topped the list of “Made in India” smartphone shipments in 2022, followed by Samsung.
Overall, 2022 has been a strong year for manufacturing and localization in India, according to research director Tarun Pathak.
In 2022, the local manufacturing shipments were driven by rising exports from Apple, Samsung, and other OEMs, which partially mitigated the effects of a declining local demand. The recent government PLI incentive payments and other programs at the federal and state levels have increased local manufacturing generally.
The report goes on to say that rising exports from Apple and Samsung may enable India to benefit from the PLI scheme in the future.
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