India’s mobile phone production grew at a compound annual growth rate (CAGR) of 23% during 2014-2022 to cross a cumulative two billion units, reports Counterpoint Research. India is now the second-biggest mobile phone-producing country thanks to its “Made in India” service.
Apple’s contribution to “Made in India”smartphone shipments reached 25% in value terms last year, according to Counterpoint. “Made in India” shipments from the iPhone maker grew 65% year-over-year by volume and 162% year-over-year by value, taking the brand’s value share to 25% in 2022, up from 12% in 2021.
“India has come a long way in mobile phone manufacturing. We have seen local manufacturing increase over the years to meet domestic demand,” says Counterpoint Research Director Tarun Pathak. “In 2022, more than 98% of shipments in the overall Indian market were ‘Made in India’, compared to just 19% when the current government took over in 2014.”
Article provided with permission from AppleWorld.Today