New Delhi: The value of mobile devices produced in India has surged to Rs 4.1 lakh crore ($49.16 billion) in this fiscal year. This marks a 17 percent year-on-year (YoY) increase. A report published by Indian Cellular and Electronics Association (ICEA) revealed this.
The production value for the domestic market is expected to have grown by 11 percent. This surged from Rs 2.6 lakh crore in FY23 to Rs 2.9 lakh crore in FY24.Smartphone sales remained relatively steady at 145-150 million units in FY24.
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In terms of manufacturers, Apple emerged as a frontrunner in export figures, with outbound shipments of mobile devices anticipated to have exceeded Rs 1.2 lakh crore ($14.39 billion) in FY24. This marks a 33 percent increase from FY23’s Rs 90,000 crore. Early estimates indicate that exports accounted for nearly 30 percent of the total production value in FY24, up from 25 percent in FY23.
Other notable participants include Apple’s vendors — Foxconn, Wistron India (now Tata Electronics), and Pegatron — along with Samsung.
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