Vocal For Local: Made In India iPhone Take Centre-Stage
At a time when the economy is going through a rough phase and the nation is fighting probably the biggest battle against COVID-19 in several years, the Prime Minister of India Narendra Modi has asked the entire nation to be more vocal for the locals. PM’s emotional appeal has motivated people to do their bit to support the local business.
In what could be music to many iPhone lovers, Apple has decided to ramp up the production of iPhones in India. Going by the wind, the time doesn’t seem too far away when the “i” in iPhone will stand for India. So, what are the factors that have played a key role in the turnaround?
Intense trade War between US and China
In the backdrop of COVID-19 outbreak and the ever-escalating trade war between China and the US, Apple has begun to look at India as a viable alternative. And rightly so as the country is the second-largest smartphone industry in the world.
With millions of consumers, India is a lucrative destination for Apple. As the smartphone industry is showing the signs of saturation and the demand for iPhones areon a downward trend globally, the tech giant wants to go all out to make India its new production hub for a couple of obvious reasons.
First and foremost, Apple wants to reduce the dependency on China which has long been its most preferred destination for the production of iPhones. Secondly, the tech giant no longer wishes to miss out on the second largest smartphone industry where most of its rivals including Samsung, Xiaomi, OPPO, and Vivo are highly successful.
Foxconn and Wistron have ramped up Made in India iPhones
Apple’s two major contract manufacturers – namely, Foxconn and Wistron – have taken the responsibility of manufacturing made in India iPhones. While Foxconn manufactures the iPhone XR in Chennai, Wistron makes the iPhone 7 in Bengaluru. As per reliable sources, the manufacturing of the iPhone 11 Series is also about to kickstart in India very soon.
The government of India has been pushing the Cupertino-based company to make both the newer and older models in the country as it would give a huge boost to its “Made in India” campaign and attract more investors. Seizing the opportunity with both hands, the Indian government has also relaxed the foreign direct investment in single-brand retail trade (SBRT) for companies willing to invest in India and opening retail stores.
Furthermore, the GOI has also tweaked its production-linked incentive (PLI) scheme that used to value plants and machinery imported from South Korea and China at a 40% discount. Due to this clause, Apple needed to either buy the same equipment in India or import more than twice the machinery to meet the demand of the government.
(Image Credit: Twitter/ Ravi Shankar Prasad)
With the timely relaxation of local sourcing norms, Apple can now establish destination stores in major cities in the country. It will help the tech giant to not only cut down the prices of iPhones but also take on the rivals.
Notably, the export of India made iPhones to some European markets has already started. With Apple finally ready to look beyond China, we might soon see the Made in India iPhones taking the centre-stage globally.
Smart pricing is the key
The key to ruling the Indian smartphone market is to get the pricing right. By putting the iPhone 11 (Rs64, 900) and the newly launched iPhone SE 2 (Rs 42, 500) at a relatively affordable price point, Apple has played its cards perfectly. Looking at the success of both these iPhone models in the country, the tech giant seems to have eventually cracked the code of dominating the Indian smartphone market.
At a time when the sentiment for a complete blanket ban on Chinese products is an all-time high, the locally manufactured iPhones can prove to be a catalyst in changing the entire landscape.
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