New Delhi, March 20 ‘Made in India’ smartphone shipments grew 6 per cent (year-on-year) last year, driven by increasing exports from Apple and Samsung, a report said on Thursday.
Apple and Samsung alone accounted for around 94 per cent of India’s smartphone exports in 2024, according to Counterpoint Research’s ‘Make in India’ Service report.
Both the brands have significantly expanded their manufacturing in India to align with the country’s objective of reducing reliance on imports and strengthening its presence in the global supply chains.
The government’s PLI (production-linked incentive) scheme has encouraged global manufacturers to set up or expand their production facilities in the country. All this has resulted in increasing local manufacturing.
“India presents itself as a great manufacturing destination due to a huge local market, affordable labour costs and favourable schemes from the government focused on increasing local manufacturing,” said senior research analyst Prachir Singh.
Smartphone manufacturing in India is expected to grow in double digits in 2025, along with increasing local value addition, he mentioned.
Foxconn Hon Hai’s manufacturing volumes grew 19 per cent YoY in 2024, backed by Apple.
“Foxconn has plans to establish a smartphone display module assembly to enhance local manufacturing capabilities,” said research analyst Tanvi Sharma.
Tata Electronics was the fastest growing manufacturer in 2024, registering 107 per cent YoY growth, with the iPhone 15 and iPhone 16 as the major volume contributors.
The company has expanded its iPhone assembly and has ventured into semiconductor fabrication with a new plant in Dholera, Gujarat.
In the overall mobile handset segment (smartphones and feature phones), Dixon emerged as the top manufacturer with strong shipments from Transsion brands and Motorola, the report mentioned.
In 2024, Samsung continued to solidify its position as a dominant player in India’s electronics manufacturing, registering a growth of 7 per cent YoY driven by increasing exports.
The second spot was taken by Vivo, which grew 14 per cent to capture a 14 per cent shipment share due to the expansion in offline retail and strengthening of its distribution network.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor