Apple & Samsung to make handsets worth $5 billion in FY22

Apple & Samsung are ready to manufacture smartphones worth around $5 bn. In FY22 under government’s flagship production linked incentive scheme exceeding the target set by 50%.

Out of this, mobile phone exports under the scheme will account for around $2 bn in FY22. The global companies are expected to exceed their targets this year.

The PLI scheme for handsets promises incentives of around ₹39000 cr. According to an official only three companies are expected to avail the incentives. Bharat FIH and Pegatron are yet to start production of phones in this category.

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