Fueled by Apple and Samsung’s expanding exports, India-made smartphone shipments grew 6% YoY in 2024, with production set for double-digit growth in 2025. Thanks to local incentives!
The shipments of smartphones manufactured in India saw a 6 per cent year-on-year (YoY) growth in 2024, driven by increased exports from leading global brands Apple and Samsung. According to Counterpoint’s report, these two brands accounted for around 94% of India’s smartphone exports.
The report highlighted that both Samsung and Apple expanded their manufacturing operations in India to reduce their reliance on imports and strengthen their global supply chains. India’s Production-Linked Incentive (PLI) Scheme also encouraged foreign companies to boost local production.
Samsung remained the top manufacturer, with a 7% YoY growth, helped by a 13% rise in exports. Foxconn Hon Hai, Apple’s key supplier, saw a 19% increase in production, mainly from iPhone 14, 15, and 13 models. Tata Electronics, formerly Wistron, grew 107% YoY, driven by the iPhone 15 and 16.
Dixon emerged as the leading manufacturer in the overall mobile handset segment, benefiting from strong shipments of Transsion brands and Motorola. Vivo grew 14% year-over-year (YoY), capturing a 14% shipment share, driven by an expanded offline retail network. OPPO, however, saw a 34% YoY decline in its manufacturing volumes.
Experts expect ‘Made-in-India’ smartphone production to continue growing in double digits in 2025.
India presents itself as a great manufacturing destination due to its huge local market, affordable labour costs, and favorable government schemes focused on increasing local manufacturing. Smartphone manufacturing in India is expected to grow in double digits in 2025, along with increasing local value addition,” commented Prachi Singh, Senior Research Analyst at Counterpoint.
