Η Apple began producing up to 14% of iPhones in India, a testament to the company's growing commitment to reduce its dependence on China.
The value represented is $14 billion of assembled iPhones in India, equivalent to about 1 in 7 of the top models of company, recording double the production of the previous financial year. Among the models assembled in India include the iPhone 12 up to the newer iPhone 15, excluding the premium Pro and Pro Max models.
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Apple has been setting up iPhone manufacturing hubs in India ever since Prime Minister Narendra Modi started 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 announced that growth in the manufacturing sector has led to the creation of 150,000 direct jobs at Apple suppliers, achieving a major achievement for the Modi government. This administration has been successful in attracting foreign companies like Apple by offering them financial incentives with the aim of turning India into a global manufacturing hub.
During the fiscal year ending March 2024, Foxconn took on the additional role in the assembly of iPhone in India, taking up about 67% of production, while Pegatron contributed about 17%, according to information from Bloomberg. The rest of the production was implemented by Wistron.
While China is the main assembly hub for Apple's iPhones and its largest international market, it is also the country where Apple is seeing its revenues drop drastically. This is due to the meteoric rise of local competitors such as Huawei and the government ban on the use of iPhones in government workplaces.
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Apple recognises the increased need for flexibility in its supply chain due to rising geopolitical tensions and is turning to India for diversification from China. This strategic orientation enhances the company's resilience while taking advantage of the growing market smartphone India, where the Apple recently opened its first two stores in Mumbai and New Delhi.
Source: macrumors
