According to the latest report, Apple has assembled over $7 billion worth of iPhones in India within fiscal year 2023 alone. A whopping 7 percent of iPhones are now made in India, a massive jump from just 1 percent back in 2021.
It appears that India is slowly on its way to meet its target of 25 percent, as announced earlier this year by Union Minister of Commerce Piyush Goyal. Apple has been betting big on India in a bid to diversify its supply chain, steadily retreating from China.
Apple Ramping up iPhone Production in India
According to a Bloomberg report, Apple has nearly tripled its iPhone production in India. Back in 2017, the Cupertino-based firm dipped its toes into India’s manufacturing facilities, starting by assembling nearly outdated iPhones in the country.
As Apple’s confidence in India’s production abilities increased, it started assembling the iPhone 13 and iPhone 14 as well. The iPhone 14 was the first iPhone model to be assembled in India soon after the launch.
Back in 2021, India only produced 1 percent of Apple’s iPhones. Now, that number has jumped to an impressive 7 percent in just two years, thanks to suppliers Foxconn, Pegatron, and Wistron ramping up production.
India Benefiting from China’s Loss
Apple has been trying to reduce its dependence on China, which has been implementing stringent COVID-19 restrictions. Considering the increasing geopolitical tensions with the US, China’s manufacturing plants don’t seem that profitable anymore.
The iPhone maker has been looking at other avenues, gradually moving some production facilities to India and Vietnam. Last year, it was announced that Apple’s largest production facility is being built in Karnataka.
Additionally, Tata Group was reported to be in talks with Wistron to manufacture iPhones in the country. Apple will also reportedly commence the manufacture of the upcoming iPhone 15 series this September in India and China simultaneously.
Apple is also planning to open two retail stores in India this month. One outlet will be at BKC in Mumbai, and the second will be Saket, New Delhi. Reports suggest that Apple will set up more physical retail outlets in India in the near future.
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published: Friday, April 14, 2023, 14:15 [IST]