Source: Thomas Peter | Reuters
Apple is looking to manufacture 25% of all of its iPhones in India, the nation’s commerce minister mentioned Monday.
Piyush Goyal, India’s minister of commerce and trade, known as Apple “one other success story” as he talked up the enterprise credentials of the world’s fifth-largest economic system.
“They’re [Apple] already at about 5-7% of their manufacturing in India. If I’m not mistaken, they’re focusing on to go up to 25% of their manufacturing,” Goyal mentioned at a convention.
Apple didn’t reply to a request for remark when contacted by CNBC.
Last 12 months, Apple started assembling its flagship iPhone 14 in India. It was the primary time the tech large, primarily based in Cupertino, California, produced its newest mannequin in India so shut to its launch. Apple has been manufacturing iPhones in India since 2017, however these have been normally older fashions.
Taiwanese agency Foxconn, the primary assembler of Apple’s iPhones, is manufacturing the smartphones at its Sriperumbudur manufacturing facility on the outskirts of Chennai in jap India.
JPMorgan analysts mentioned in a be aware from September that Apple may make 25% of all iPhones globally in India by 2025.
Apple has been looking to diversify production away from China, the place it at the moment makes the majority of its iPhones. Fragilities in China have been uncovered final 12 months after a Covid outbreak and worker protests on the world’s largest iPhone manufacturing facility in Zhengzhou, China, which can be run by Foxconn, disrupted production.
Last 12 months, CNBC reported that India is exploring bringing a few of Apple’s iPad production to the nation from China.
Apple has only a 5% market share in India’s smartphone market, however CEO Tim Cook has long-seen India as a possible space for development.