Apple shipments under 'Make in India' increased by 66 per cent in volume and 162 per cent in value, raising the brand's value share to 25 per cent in 2022, up from 12 per cent in 2021.
According to Counterpoint Research, the contribution of exports to 'Make in India' smartphone shipments will be the greatest ever in 2022, both in volume (20 per cent) and value (30 per cent) terms.
Overall, 'Make in India' smartphone shipments fell 3 per cent year on year to 188 million devices in 2022 (January-December).
The main reason for this drop was a softening of customer demand due to macroeconomic headwinds, particularly in the second half of the year.
"Among the top ten fastest growing manufacturers in Q4 2022 were Apple's EMS (electronics manufacturing services) partners Foxconn Hon Hai and Wistron. Apple's increased exports also contributed to the growth," said senior research analyst Prachir Singh.
In the fourth quarter of 2022, Samsung surpassed OPPO, whose manufacturing shipments fell 31 per cent year on year due to inventory problems in the entry-tier sector.
"In terms of volume, Apple's EMS partners Foxconn Hon Hai, Wistron, and Pegatron were among the top ten EMS players in India in 2022." According to Singh, Foxconn Hon Hai and Wistron dominated the EMS landscape in terms of value.
Both of these companies got the PLI incentive in the most recent disbursements.
OPPO topped 'Made in India' smartphone shipments in 2022, with a 22 per cent share, followed by Samsung.
According to Tarun Pathak, Research Director, 2022 has been an excellent year for manufacturing and localisation in India.
"Increased exports from Apple, Samsung, and other OEMs drove locally manufactured shipments in 2022, partially offsetting the impact of a decline in local demand." The recent government disbursement of PLI incentives, as well as other efforts at the central and state levels, has boosted overall local manufacturing," Pathak observed.
According to the report, the nation may benefit from the PLI scheme in the future due to increased exports from Apple and Samsung.