Technology giant company Apple has ideas to expand its production in India by an upward trend of five-fold to approximately $40 billion, which is approximately Rs. 3.32 lakh crore in the upcoming four to five years, according to government sources in a report.
As per the report, the official who didn’t want to be named or given credit said that Apple has attained the $7 billion production mark in the last financial year. An email query was sent by the media portal to the tech giant but there was no official response.
Apple is presently building iPhones in India and has advanced plans to begin manufacturing Airpods from next year. The official said that the company has no ideas or intentions on an immediate level to create iPads or laptops in India.
The company all over the world has sold iPhones close to $191 billion and products worth $38.36 billion in the wearable, home, and accessories categories in the financial year ending on 25 September 2022.
The first nine months of the present fiscal year have revealed that the company registered around a 4 percent reduction in iPhone sales at $156.77 billion and a little reduction in the wearable, home, and accessories categories at USD 30.52 billion. This has made the company become one of the largest exporters of mobile phones from India.
As per the sources of the industry, sales of Apple’s iPhone 15 series recorded a 100 percent growth compared to that of the iPhone 14 series on the launch day i.e. on Friday. So far, the company has introduced four models in the iPhone 15 series. In India, the iPhone 15’s two variants iPhone 15 and iPhone 15 Plus are being made available.
This is the first time that the company has made available the iPhones under the Made in India campaign just on the same day of the launch it began selling devices in other parts of the world. As per the market research firm Counterpoint Research, Apple led the ultra-premium segment, with phones priced above Rs 45,000 apiece, with 59 percent market share in the first quarter of 2023 and India is among the top-five markets for Apple at present.
On the other hand, Chip startup company Rivos Inc. has registered a countersuit against technology giant Apple. The lawsuit that has been submitted to a federal court in San Jose comes at a time when Apple’s own legal action is being undertaken against Rivos and six of its former employees.
So, the story goes this way Apple blames these individuals who when joined Rivos stole the company’s secrets to develop chips and on the other hand now Rivos is fighting back. Their counter-legal action states that the employment agreements with Apple are far-reaching to the level of being impossible to execute.
Rivos argues that Apple is illegally stopping the ability of its employees to get jobs in other firms, thus not allowing the advancement of promising startups. The company alleges Apple to remove any possibilities of legal competition in the market. However, the report says that Apple has yet to give any official statement on this matter.