Apple’s aggressive move to expand iPhone manufacturing in India has given Tata Electronics a major boost, with exports to the US emerging as its biggest revenue driver, reports The Economic Times. In FY25, shipments of iPhones to America accounted for nearly 37% of the Tata Group company’s turnover, contributing more than Rs 23,112 crore.
The numbers highlight Apple’s effort to reduce reliance on China and strengthen India as a key hub for iPhone production amid tariff pressures under US President Donald Trump.
Ireland emerged as the second-biggest contributor, generating 23% of revenue (Rs 14,255 crore), followed by Taiwan at 15%. Domestic sales accounted for 20%, based on Tata Electronics’ regulatory submissions to the Registrar of Companies, ET reported.
The steep rise in Apple’s share suggests that the iPhone maker had started shifting assembly for the US market from China to India well before Trump’s tariff measures in February, The Economic Times noted. A year earlier, Tata Electronics focused primarily on exports to Taiwan and sales in India. Alongside Foxconn (Hon Hai), Tata has become one of Apple’s leading partners for iPhone assembly in India.
Tata produces iPhones at two plants, including the former Wistron facility it purchased in March 2024. That unit—now Tata Electronics Systems Solutions—operates as a fully owned subsidiary of Tata Electronics, according to ET.
Financial disclosures reviewed by The Economic Times show the rapid ramp-up in operations. Tata Electronics Systems Solutions logged revenues of Rs 75,367 crore over the 15 months ending March 2025, up from Rs 14,350 crore in calendar 2023. Net profit soared to Rs 2,339 crore during the January 2024–March 2025 period, compared with Rs 36 crore a year earlier. The company switched its financial year to an April–March cycle, creating the 15-month reporting window.
“This represents a remarkable turnaround, with revenues climbing sharply after Tata’s acquisition of Wistron’s Indian unit,” Mohit Yadav, founder of business research firm AltInfo, told ET.
Another arm, Tata Electronics Products and Solutions Pvt—previously Pegatron Technology India—also posted robust numbers. As per filings cited by The Economic Times, revenue grew 84% in FY25 to Rs 34,264 crore, though net profit rose just 1% to Rs 633 crore. Tata acquired a 60% stake in the Pegatron unit for Rs 1,650 crore; Pegatron runs a factory in Tamil Nadu, while the Wistron site is based in Karnataka.
Analysts quoted by ET expect these two plants to further propel Tata Electronics’ performance in the current fiscal, given Apple’s increasing production footprint in India. Tarun Pathak of Counterpoint Research said that with over 70% of iPhones sold in the US now made in India, Tata’s income will continue to grow, although Foxconn remains the country’s leading iPhone assembler.
Apple CEO Tim Cook highlighted during an August earnings call—cited by The Economic Times—that most iPhones sold in the US are now sourced from India, while Macs, iPads, and Watches largely come from Vietnam. China still produces the bulk of Apple devices for other global markets, he added.
On a consolidated basis, Tata Electronics Pvt Ltd recorded operating income of Rs 66,206 crore in FY25, a sharp rise from Rs 3,752 crore in FY24, according to filings reviewed by ET. Net losses narrowed to Rs 69 crore from Rs 825 crore. Yadav told The Economic Times that despite revenues and assets of about Rs 48,000 crore, ongoing investments and integration expenses continue to weigh on profitability.
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