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India overtakes China to become world's top smartphone maker for the US
Vietnam, home to most of Samsung Electronics Co's production, ranked second. In contrast, China's share of estimated shipments plummeted from over 60 per cent a year ago to just 25 per cent.
Apple's India manufacturing push
The shift is a result of Apple increasing its manufacturing capacity in India, alongside broader efforts by smartphone makers to 'frontload device inventories amid tariff concerns,' Canalys researchers wrote. The number of smartphones manufactured in India more than tripled compared to the same period last year.
Although Apple's iPhone shipments to the US fell by 11 per cent, this decline was attributed to earlier-than-usual bulk shipments.
India-made iPhone output rises to $22 bn
Apple assembled iPhones worth $22 billion in India in the 12 months ending March, marking a nearly 60 per cent rise from the previous year. Most of these devices were produced at Foxconn Technology Group's facility. Tata Group's electronics arm, which recently acquired Wistron Corp and oversees Pegatron Corp's operations, has also become a major supplier.
Trump seeks manufacturing jobs in US
Apple and other technology companies have been gradually moving production away from China to reduce risks associated with tariffs and rising geopolitical tensions. India and Vietnam have become prominent alternatives in this strategy. This shift has drawn criticism from US President Donald Trump, who has been urging firms to bring manufacturing jobs back to the United States. Despite its global diversification, Apple continues to manufacture most of its iPhones in China and has no smartphone production in the US. However, the company has committed to hiring more domestically and investing $500 billion in the US over the next four years.
China disrupts Apple's India expansion efforts
Apple's shift towards India has not gone unnoticed by Chinese authorities. The Chinese government has reportedly taken steps to undermine Apple's competitive advantage abroad. Around a year ago, it delayed approvals for machinery Apple needed to import for iPhone production in India.
In a more recent move, Chinese Customs indefinitely withheld machines required for retrofitting assembly lines to manufacture the forthcoming iPhone 17. Additionally, Beijing pressured Foxconn to withdraw over 300 Chinese engineers and technicians from its facilities in India. These experts were initially deployed to assist with technology transfer and worker training.
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Hindustan Times
7 minutes ago
- Hindustan Times
India-UK trade deal: How will it benefit luxury car buyers in India? Explained in detail
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In FY25, while the rising food inflation and falling wages prompted the urban consumers to hold back their car purchase plans, the wealthy class continued their luxury car shopping spree. This resulted in the luxury cars registering strong demand throughout the last fiscal, while the mass-market segment recorded muted sales. The luxury car manufacturers sold 51,406 units in FY25, marking a three per cent year-on-year (YoY) growth compared to 49,862 units in FY24, and setting a record for the highest sales in any financial year. This growth came even as the Indian economy struggled. Mercedes-Benz led the market with 18,928 units sold, marking its best-ever fiscal performance. BMW, on the other hand, secured the second position with 15,810 units sold, recording a five per cent rise from 14,562 units sold in FY24. Jaguar Land Rover (JLR) experienced a 40 per cent YoY growth, selling 6,183 units in the last financial year. Among others, Lexus, the luxury vehicle brand of Japanese automaker Toyota, reported a 19 per cent YoY growth in FY25. While this growth momentum is expected to continue in this financial year, the recently signed India-UK FTA is expected to further fuel this story. Speaking about this, Arun Surendra, Chairman and Group Managing Director at VST Group, a multi-brand luxury car seller, said that the luxury segment is still a small part of India's overall car market, around one to two per cent, but it's growing faster than the mass segment. 'What's interesting is how wide the base is getting. It's no longer just metros. We are seeing solid traction from Tier-2 cities, especially in the SUV and EV space. The aspiration is real, and it's backed by buying power," he said, while also adding, 'There's a clear rise in affluence, especially in South India. We are seeing more HNIs (High Net-Worth Individuals) choosing cars that reflect their lifestyle and values. It's not just about performance anymore. Design, technology, and brand experience are equally important." India-UK FTA: How ICE cars will benefit Under the India-UK FTA, internal combustion engine (ICE) powered cars are classified in three segments for duty relief. These are - entry-level vehicles under 1500 cc, mid-segment vehicles between 1500 cc and 3000 cc for petrol or up to 2500 cc for diesel and vehicles with engines larger than 3000 cc for petrol and 2500 cc for diesel. In the first year of FTA, cars in the mid and lower engine segments, which faced a pre-FTA base duty of 66 per cent, will be taxed at 50 per cent in the first year and 10 per cent by the fifth year. Cars in the highest engine capacity segment that attracted a base customs duty of 110 per cent in the pre-FTA regime will see the in-quota duty drop to 30 per cent. By the fifth year, this customs duty rate will come down further to just 10 per cent. 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Hindustan Times
8 minutes ago
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Google CEO Sundar Pichai makes surprise commentary debut during India-England Test
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Doval, Jaishankar to visit Moscow this month amid Trump's 'dead economies' criticism and trade penalty
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