Apple Inc. has collected $22 billion worth of iPhones in India in the 12 months ended in March, up nearly 60% year-on-year, in signs of continued diversification away from China.
The company headquartered in Cupertino, California, earns 20% or 1 in 5 of the respected iPhones in South Asia, according to people familiar with the issue they asked not to identify if the information was not publicly disclosed. The dollar figures represent the estimated factory gate value of the device, not the marked-up retail price.
Ramp-up suggests that iPhone manufacturers and their suppliers are accelerating their pivot from China to India. This is the process that began when the harsh COVID lockdown hurt production at Apple’s biggest factory. Most of the Indian-made iPhones are assembled at the Foxconn Technology Group factory in southern India. The electronic manufacturing division of Tata Group, which acquired the operations of Wistron Corp. and Controls Pegatron Corp., is also a key supplier.
Apple did not respond to requests for comment outside of normal business hours.
Of India’s production, Apple exported 1.5 trillion rupees ($17.4 billion) to regional iPhones from March 2025 to March 2025, the National Technology Minister said on April 8.
People said the shipment of iPhones from India to the US accelerated after President Donald Trump announced plans for so-called “mutual” tariffs in February. Apple’s average Indian production and exports all spiked throughout the March fiscal year.
Apple plans to increasingly prioritize iPhones from the Indian supply chain for US customers, Bloomberg News previously reported.
The Trump administration exempted electronic devices, including smartphones and computers, from mutual tariffs late Friday. This is good news for companies like Apple and Nvidia Corp., but the reprieve doesn’t seem to extend to Trump’s separate 20% obligations on China.
This also means that an iPhone made in India will not attract current obligations. With the exception that came on Friday, Trump’s accumulated collection in China remains at 145%, which will force companies like Apple to step up their supply chain shifts.
However, due to nearly 200 suppliers and overwhelming dependence on China, travelling to other countries could take years. Despite Trump’s ambition to make an iPhone in the US, Apple is unlikely to move production anytime soon, due to factors such as the lack of facilities and labor required to produce the device.
Apple’s CEO Tim Cook often praises China’s high level of skills in creating marquee devices. In 2022, Bloomberg Intelligence estimated it would take eight years to move just 10% of Apple’s production capacity from China.
Apple is currently assembled the entire iPhone range in India, including the more expensive titanium pro models. The success of manufacturing in the world’s most populous country is also aided by state subsidies related to Prime Minister Narendra Modi’s ambition to turn the country into a manufacturing hub.
Modi is also looking to expand the manufacturing of electronics components with a new $2.7 billion financial incentive, focusing on moving forward in semiconductor ambitions.
Apple has captured nearly 8% market share in the Indian smartphone market, with its sales (majority from the iPhone) reaching nearly $8 billion in 2024.
