Apple achieved a milestone in 2024 by exporting over $12 billion worth of iPhones from India, marking a 40% growth compared to 2023, according to industry estimates. With domestic production increasing by nearly 46% year-over-year, the tech giant manufactured $14 billion worth of iPhones in FY24, exporting more than $10 billion of these devices. Riding on the government’s production-linked incentive (PLI) scheme and the growing trend of premiumisation, Apple reached a remarkable ₹1 lakh crore ($12 billion) in exports.
Over the past four years, Apple has created 175,000 direct jobs in India, with over 72% being women. The company’s aggressive retail expansion and targeted marketing campaigns have strengthened its presence in India, making 2024 a landmark year for the brand in terms of exports and domestic sales. Tarun Pathak, Research Director at Counterpoint Research, highlighted Apple’s appeal to aspirational youth, its consumer connectivity, and its strategic expansion in manufacturing and retail channels as key drivers of success.
Premiumisation in India, supported by financing options, has boosted affordability for high-end smartphones, benefiting Apple’s focus on the premium and ultra-premium segments. The Indian smartphone market is predicted to surpass $50 billion in value by 2025, with average selling prices exceeding $300 for the first time in 2024. Apple’s Pro models are expected to see robust demand, propelled by price reductions and local manufacturing efforts.
As India’s premium smartphone market continues to expand, Apple’s strategies of aggressive retail growth, innovative marketing, and deeper engagement with aspirational consumers position it for sustained momentum in the years ahead.
