After peaking at $ 1.7 billion in May, smartphone exports have been declining in each month and settled at $ 923 million in September, which represented flat growth on year.
Despite the month-on-month decline in shipments of these items the four months ending September, the exports of smartphones were still up 29.5% on year at $ 8.4 billion in April-September, commerce ministry data showed.
The US remained the biggest market for Indian smartphones with shipments growing at 48% on year to $ 3.13 billion but there is a shuffling of the list of top 10 markets. In April-September Japan and Mexico have entered the list at number eight and nine while Germany and Turkey are off that list. Germany and Turkey though they still remain important markets with exports of $ 144 million and $ 95 million in the first half of the financial year. The United Arab Emirates (UAE) is the only market in the top 10 where there is a contraction.
In the 12 month period typically the July-September quarter is the sluggish one and shipments pick up from October onwards driven by the global festive demand.
Smartphone exports
2024-25 ($ million) | 2023-24 ($ million) | Growth % | |
April | 1551 | 1067 | 45.3 |
May | 1740 | 1363 | 27.6 |
June | 1610 | 1291 | 24.7 |
July | 1549 | 951 | 62.8 |
August | 1097 | 954 | 14.9 |
September | 923 | 912 | 1.2 |
Total | 8470 | 6538 | 29.5 |
Top export markets
April-September 24($ Million) | April-September 23 ($ million) | Growth% | |
US | 3138 | 2115 | 48 |
UAE | 975 | 1218 | -19 |
Netherlands | 865 | 484 | 78.7 |
UK | 581 | 494 | 17.6 |
Italy | 501 | 319 | 57 |
Austria | 476 | 287 | 65.8 |
Czech Republic | 353 | 299 | 18 |
Japan | 161 | – | |
Mexico | 156 | – | |
France | 140 | 109 | 28.4 |
Exports had grown 42.1% to $ 15.5 bn in FY24