Apple iPhone exports from India double, surpass $1B: report
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Apple (NASDAQ:AAPL) iPhone exports from India have more than doubled since April, surpassing $1B, as the tech giant continues to boost its output from the country and India gains footing as a global electronics manufacturing hub, Bloomberg reported.
The news outlet, citing people familiar with the matter, noted that the India-made iPhones have gone mostly to Europe and the Middle East. At their current rate, iPhone exports would surpass $2.5B through March 2023, the people added.
Late last month, Apple (AAPL) confirmed that it would make its iPhone 14 in India, as the U.S.-based tech giant diversifies production of its iconic device away from China amid COVID-19 lockdowns and increased geopolitical tensions.
"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities," Apple said in a statement at the time. "Weâre excited to be manufacturing iPhone 14 in India." 
The newest model iPhone is being manufactured by Foxconn (OTCPK:HNHPF) and assembled in Chennai, India.
Apple (AAPL) has been producing iPhone units in India since 2017, when it started with the iPhone SE.
Investment firm J.P. Morgan recently suggested Apple could shift a quarter of its iPhone production to India by 2025 and expected 5% of its iPhone production this year to move to the country.
In August, it was reported that Apple (AAPL) would look to India for iPhone 14 production due to Prime Minister Narendra Modiâs push for local manufacturing and to narrow the production gap between the Southeast Asian country and China.