- The country’s commerce and industry minister Piyush Goyal said that Apple is targeting to manufacture 25% of all its iPhones in India, which currently stands at between 5%-7%.
- Last year, Apple started assembling its flagship iPhone 14 in India. This was the first time that Apple introduced its latest model so close to its launch in India.
- Apple is looking to diversify production away from China, where it currently makes the bulk of its iPhones, after a Covid outbreak at its main assembly plant exposed fragility in its supply chain.
apple The country’s commerce minister said on Monday that it wants to manufacture 25% of all its iPhones in India.
Piyush Goyal, India’s commerce and industry minister, called Apple “another success story” as he spoke of the business credibility of the world’s fifth-largest economy.
“they are doing [Apple] Already around 5-7% of their manufacturing is in India. If I am not wrong, they are targeting to go up to 25% of their manufacturing,” Goyal said at a conference.
An Apple spokesperson declined to comment.
Last year, Apple started assembling its flagship iPhone 14 in India. This was the first time that the Cupertino, California-based tech giant introduced its latest model in India so close to the launch. Apple has been manufacturing iPhones in India since 2017, but these were usually older models.
Taiwanese firm FoxconnApple’s main assembler of iPhones is manufacturing the smartphone at its Sriperumbudur factory on the outskirts of Chennai in eastern India.
JP Morgan analysts said in a September note that Apple could make 25% of all iPhones globally by 2025 in India.
Apple is looking to diversify production away from China, where it currently makes the bulk of its iPhones. Vulnerabilities were revealed in China last year after a Covid outbreak and worker protests at the world’s largest iPhone factory in Zhengzhou, which is also run by Foxconn, disrupted production.
Last year, CNBC reported that India is exploring the possibility of moving some of Apple’s iPad production from China to the country.
Apple has just 5% market share in India’s smartphone market, but CEO Tim Cook has long seen India as a potential area for growth.
Credit: www.cnbc.com /