Apple its iPhones in India, a testament to the company's growing commitment to reducing its dependence on China.
The value represented is $14 billion from iPhones assembled in India, equivalent to about 1 in 7 of the company, recording double the production compared to the previous fiscal year. Models assembled in India include the iPhone 12 up to the latest iPhone 15, excluding the premium Pro and Pro Max models.
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Apple has been setting up iPhone manufacturing hubs in India since Prime Minister Narendra Modi began promoting his "Made in India" initiative, which requires 30% of products sold by foreign companies to be manufactured or produced within the country.
The Indian government said that growth in the manufacturing sector has led to the creation of 150,000 direct jobs at Apple suppliers, a major achievement for the Modi government, which has been successful in attracting foreign companies like Apple by offering them financial incentives, aiming to turn India into a global manufacturing hub.
During the fiscal year ending March 2024, Foxconn took over the additional role in assembling iPhones in India, accounting for about 67% of production, while Pegatron contributed about 17%, according to information from Bloomberg. The remaining percentage of production was handled by Wistron.
While China is Apple's main iPhone assembly hub and its largest international market, it's also the country where Apple has seen its revenue plummet. This is due to the meteoric rise of local competitors like Huawei and the government's ban on the use of iPhones in government workplaces.
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Apple recognizes the increased need for flexibility in its supply chain due to rising geopolitical tensions and is looking to India to diversify away from China. This strategic orientation strengthens the company’s resilience while also capitalizing on India’s growing smartphone market, where Apple recently opened its first two stores in Mumbai and New Delhi.
Source: macrumors
