Bloomberg recently released the latest "India Edition newsletter" and pointed out that in the 12 months ending in March this year, Apple produced iPhones worth $22 billion (about RMB 160.352 billion) in India, an increase of nearly 60% over last year. It should be noted that the amount here refers to the estimated ex-factory price of the device, not the retail price.

According to people familiar with the matter, Apple now produces one-fifth of iPhones in India, or 20% of its production.

Apple CEO Tim Cook has repeatedly stated that Apple highly appreciates China's technical level in producing its flagship devices. In 2022, Bloomberg Intelligence estimated that it might take eight years to transfer 10% of Apple's production capacity from China.

Currently, Apple has assembled a full range of iPhones in India, including the higher-end Pro series. Apple's manufacturing achievements in India have also benefited from the Indian government and Prime Minister Modi's strategy to make the country a global manufacturing center. Modi also plans to promote the manufacture of electronic components and focus on the development of the semiconductor industry by providing new fiscal incentives of US$2.7 billion (approximately RMB 19.68 billion).

Apple's smartphone market share in India is close to 8%, with sales of nearly US$8 billion (approximately RMB 58.31 billion) in fiscal 2024.