Apple iPhone makers Foxconn, Wistron on track to achieve targets under PLI; Pegatron manufacturing to take time

NEW DELHI: Smartphone major Apple’s manufacturing partners Foxconn (HonHai) and Wistron are set to achieve targets by end of this fiscal year under the production-linked incentive (PLI) scheme, having increased the production of iPhones for domestic and export purposes in the past few quarters, people familiar with the matter said.

Apple’s share of made in India iPhones has increased from 17% in 2018 to 76% now, while its share of smartphone exports from the country is now at 5% from zero a couple of years back, as per Counterpoint Research.

“They (Foxconn and Wistron) were not able to fully utilise the installed capacity last year, but they have now picked pace and will achieve this year’s target easily before the stipulated time,” a person in the know told ET. “Their export run-rate is also very good, which is also helping both Apple’s partners. India-made phones are being sold in markets in Europe as well.”