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Thursday, May 23, 2024

Apple now makes almost 7% of its iPhones in India – Bloomberg News

The company assembled more than $7 billion worth of iPhones in the country in the last fiscal year, the report said.

Apple Inc has significantly increased its production of iPhones in India, accounting for almost 7% of its total iPhone production, up from 1% in 2021, Bloomberg News reported on Thursday.

The company assembled more than $7 billion worth of iPhones in the country in the last fiscal year, the report said.

Read more: Apple boss hails China ties

Apple did not immediately respond to a Reuters request for comment.

In the last fiscal year, the company tripled the production of iPhones in India. The report revealed that Apple has assembled more than $7 billion worth of iPhones in India with the help of Foxconn Technology Group, Wistron and Pegatron Corp. Notably, Apple is exploring ways to reduce its reliance on China as tensions between the two nations escalate.  

Last year, Apple struggled to run operations smoothly in China’s ‘iPhone City’ complex in Zhengzhou. The company was even forced to cut outputs in the country. PM Narendra Modi recently announced a few incentives to boost local manufacturing in the country that could benefit companies like Apple.

It was earlier reported that Apple will start manufacturing around 25 percent of iPhones in India by 2025. The report adds that the tech giant is likely to launch its upcoming iPhones in India at the same time as China. This will be the first time that the assembly of iPhones will begin in the two countries simultaneously.

The report further revealed that together Foxconn, Wistron and Pegatron employ 60,000 workers in India.

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Apple manufactures iPhone 11, iPhone 12, iPhone 13 and iPhone 14 in India. In addition to this, it was recently revealed that it will also manufacture AirPods in the country.

The upcoming iPhone 15 model is also rumored to be manufactured in India while the other Pro models of the lineup will be produced in China.

Apple will open its first retail store in India in Mumbai called Apple BKC. The launch will be followed by one in New Delhi called Apple Saket on April 20. For the grand opening, Apple CEO Tim Cook is rumoured to visit India and even meet PM Narendra Modi.