Tata Electronics pips Foxconn by assembling $26.3 bn iPhones for exports

Tata Electronics overtook Foxconn in iPhone export value during the PLI period, underscoring its rapid rise as Apple's key manufacturing partner in India

Despite being a late entrant, Tata Electronics has overtaken Taiwanese electronics manufacturing services (EMS) giant Foxconn to grab a larger share of assembling iPhones, which are exported from the country, during the five-year production linked incentive (PLI) scheme period between financial year 2021-22 (FY22) and FY26. 

According to data provided by vendors to the government, iPhones assembled by Tata Electronics, which were exported in this five-year period, were pegged at a value of $26.3 billion compared to Foxconn, which was behind at $25.6 billion. 

Not only that, Tata Electronics has been able to close in on Foxconn on its share of total production value of iPhones — exports as well as domestic market — made in the country. With a total production value of $35.5 billion between FY22 and FY26, it has a 46.01 per cent share. In comparison, Foxconn continues to lead with a production value of $38 billion in what is a two-way battle.

Queries to Tata Electronics and Foxconn, however, did not elicit any response. Apple Inc spokesperson also did not respond.

Foxconn’s larger domestic market share drives this difference. Its iPhones that are made for the domestic market hit $12.4 billion, which is double of Tata Electronics’ production value of $6.3 billion. 

Foxconn started assembling iPhones for Apple Inc from 2019 even before the PLI scheme kicked in. The Tatas, on the other hand, have been a late entrant in the Apple Inc supply chain, getting into iPhone assembly business only after they acquired 100 per cent stake in Taiwanese giant Wistron in November 2023. They followed it up by also picking up a 60 per cent stake in Pegatron in 2024, making it a two-way battle. 

Over the five-year period, ex­ports were clearly the main focus for Apple Inc. The numbers tell the story: exports accounted for 73.6 per cent of the total production value of iPhones assembled in the country, with the remainder coming from the domestic market.

For a company which sold very few iPhones imported from China to cater to the domestic market, the PLI period saw a boom in iPhone sales supported by attractive exchange offers and discounts, and changing consumer preference for premium phones.

As a result, iPhones valued at $18.6 billion (₹176,680 crore) were sold in the domestic market in the five-year period — a clear reflection why the company has been able to increase both its value and now volume share in the domestic sweepstakes. 

 

In the first quarter of 2026, for instance, iPhone 17 was the top-selling brand in volumes, with a 4 per cent share, despite a price tag of over ₹82,900. The iPhone 16 was the sixth-highest seller, with a 2 per cent volume share, according to Counterpoint Research data.