Apple India assembles $29b worth of iPhones in shift away from China

CALIFORNIA - Apple Inc assembled US$22 billion (S$29 billion) worth of iPhones in India in the 12 months ended March, increasing production by nearly 60 per cent over the previous year in a sign of continued diversification away from China.

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The Cupertino, California-head-quartered company now makes 20 per cent, or one in five, of its prized iPhones in the South Asian country, according to people familiar with the matter who asked not to be identified as the information is not public. The dollar figure represents the devices’ estimated factory-gate value, rather than the marked-up retail price.

The ramp-up suggests the iPhone-maker and its suppliers are accelerating a pivot to India from China - a process it began when harsh Covid-19 lockdowns hurt production at Apple’s largest plant. The bulk of India-made iPhones are assembled at Foxconn Technology Group’s factory in southern India. Tata Group’s electronics manufacturing arm, which bought Wistron Corp and controls Pegatron Corp’s operations, is also a key supplier.