According to data from the Commerce Ministry, India’s smartphone exports to the US increased to USD 3.53 billion from April to December of current fiscal year from USD 998 million during the same time the previous year.
According to the data, the market share of smartphones increased from 2% during the same time last year to 7.76% between April-December of this fiscal year due to an increase in outbound shipments. According to an official, exports have increased as a result of a rise in smartphone production overall. China and Vietnam’s share decreased over the course of the fiscal year, which lasted nine months.
China sold cellphones to the US market for USD 35.1 billion between April and December of last year, a decrease from USD 38.26 billion the previous year. From April to December 2023, Vietnam’s phone shipments fell to USD 5.47 billion from USD 9.36 billion over the same time the previous year. Hong Kong and South Korea are the two other leading exporters of smartphones to the United States.
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While Hong Kong’s sales decreased to USD 112 million from USD 132 million in April-December 2022–2023; South Korea’s exports to the United States climbed to USD 858 million from USD 432 million during the period under consideration.
Exports reached USD 10.5 billion in April–December 2023–24 with the pace continuing. India is becoming a significant hub for smartphone production following the introduction of the Product Linked Incentives (PLI) scheme and the US-based iPhone manufacturer Apple’s entry into local manufacturing.
