Apple may make $3 billion in iPhone sales in India with over 50 per cent growth by year-end

iPhones account for around 15 per cent of the smartphone market in India right now.

Apple may be on its way to making over $3 billion in iPhone sales revenue by the end of this financial year in India, analysts have predicted. Business Standard has cited analysts in its latest paywalled report that iPhone sales in India may grow by more than 50 per cent year-over-year. Apple's revenue from iPhone sales stands at under $2 billion for the financial year 2019-2020, but industry experts are optimistic about Apple’s growth trajectory in India. The biggest reason why Apple will end up cornering more than $3 billion in iPhone sales by the end of the fiscal year 2021-2022 is the local manufacturing of flagship iPhones. Apple’s manufacturing partners, Foxconn and Wistron, have doubled down on assembling iPhones in India by 75 per cent in 2021, a dramatic jump from 2017. The increase in iPhone production is a result of the Indian government’s incentive plan that catalyses local production of smartphones.