Apple iPhones that were assembled in India rack up $14 billion in value: Report

The value of Apple’s iPhones that were put together in India has hit $14 billion in the last fiscal year, reported Bloomberg, as the luxury device maker slowly steers away from China

Apple did not confirm or deny the reported figures [File] | Photo Credit: REUTERS

In the last fiscal year, the value of the Apple iPhones assembled in India reached $14 billion, reported Bloomberg on Wednesday.

This equates to about one in seven phones assembled in India, per the report. While the figure is still far behind that of China’s Foxconn, it indicates that Apple is steering towards countries with which the U.S. has better trade and diplomatic relations, in order to assemble its smartphones.

The major iPhone assembly companies in India are Pegatron Corp. and Wistron Corp. The Tata conglomerate is also looking to enter the lucrative space, and bought Wistron last year.

Apple did not confirm or deny the reported figures.

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As smartphones spread through the country more than a decade ago, Indian buyers initially focused on budget-friendly handsets that were largely manufactured by Chinese makers.

In recent years, however, buyers are more willing to invest in iPhones as a status symbol.

Apple officially entered India’s consumer sector last year by flagging off two stores in Mumbai and New Delhi.