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Apple's India iPhone production surges to $14 billion in 2024
The Business Guardian
|April 11, 2024
Apple Inc. has significantly ramped up its iPhone manufacturing in India, assembling devices worth $14 billion in fiscal 2024, according to a report by Bloomberg News.
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This move underscores Apple's commitment to diversifying its supply chain beyond China, particularly amidst geopolitical tensions between Beijing and Washington.
The report highlights that Apple now produces approximately 14% of its marquee iPhones in India, translating to about 1 in 7 devices. Foxconn leads the assembly operations, accounting for nearly 67% of India-made iPhones, followed by Pegatron Corp with approximately 17%.
The remaining portion is manufactured at Wistron Corp's plant in Karnataka, which was taken over by the Tata Group last year.
The expansion of Apple's manufacturing capabilities in India comes as the company seeks to reduce its reliance on China, the largest iPhone manufacturing hub globally. This strategic move aligns with Apple's broader efforts to mitigate geopolitical risks and enhance operational resilience.
Dit verhaal komt uit de April 11, 2024-editie van The Business Guardian.
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