India's smartphone exports to the United States soar to ₹29,000 crore, China's share declines

India’s smartphone exports to the United States jumped to $3.53 billion in April-December 2023 against $998 million in the same period in 2022, according to the Commerce Ministry data.

Higher share in US market

The increasing outbound shipments led to an increase in India's share of the US smartphone market, which soared to 7.76% during April-December 2023 from just 2% in the same period of the previous year, the data showed.

Third largest smartphone exporter to US

The 3.5x growth in India's smartphone exports has now made India the third-biggest smartphone exporter to the US. On the other hand, during the nine-month period, the share of China and Vietnam declined.

Exports from China, Vietnam drop

China exported $35.1 billion worth of smartphones to the US market in April-December 2023, down from $38.26 billion last year.

Vietnam’s shipments of phones declined to $5.47 billion in April-December 2023 from $9.36 billion in the same period of the previous year. Other two major smartphone exporters to the US are South Korea and Hong Kong.

South Korea’s exports to America during the period under review increased to $858 million from $432 million, while Hong Kong’s sales slipped to $112 million from $132 million in April-December 2022.

US smartphone imports drop

The US smartphone imports from the top five suppliers also declined during April-December 2023 to $45.1 billion from $49.1 billion in 2023.

Smartphone boost for India's exports

Smartphones started registering their presence in the Indian export basket in 2022-23 when shipments touched $10.95 billion. With the continued momentum, exports have touched USD 10.5 billion in April-December 2023-24.

After the announcement of the Product Linked Incentives (PLI) scheme and the entry of US-based iPhone maker Apple into domestic manufacturing, India is emerging as a major production hub for smartphones.

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