Apple contribution to ‘Make in India’ smartphone reaches 25% in value terms

‘Make in India’ shipments from Apple grew 65 per cent (on-year) by volume and 162 per cent by value, taking the brand’s value share to 25 per cent in 2022, up from 12 per cent in 2021, a new report has shown.

The contribution of exports in ‘Make in India’ smartphone shipments reached the highest ever in 2022 both in volume (20 per cent) and value terms (30 per cent), according to Counterpoint Research.

Overall, ‘Make in India’ smartphone shipments declined 3 per cent YoY in 2022 (January-December) to reach 188 million units.

The major factor behind this decline was the softening of consumer demand due to macroeconomic headwinds, especially in the second half of the year.