Title: Apple and Suppliers to Ramp Up iPhone Production in India
Updated Dec. 8, 2023 12:01 am ET
Apple and its suppliers have announced plans to significantly increase the production of iPhones in India over the next few years. According to sources familiar with the matter, the goal is to produce more than 50 million iPhones annually in India within the next two to three years, with plans for additional tens of millions of units to be manufactured after that.
If these plans come to fruition, India would account for a quarter of the global iPhone production and is expected to further increase its share towards the end of the decade. Despite the expansion in India, China will remain the largest iPhone producer.
This move signifies Apple’s continued efforts to diversify its manufacturing operations outside of China, where it has faced challenges such as rising labor costs and trade tensions. By expanding production in India, Apple and its suppliers are aiming to take advantage of the country’s growing consumer market and favorable business environment.
The announcement comes as a part of Apple’s broader strategy to establish a stronger presence in the Indian market, where it has been steadily gaining momentum in recent years. In addition to manufacturing, Apple has been expanding its retail footprint and investing in local research and development initiatives.
The expansion of iPhone production in India is expected to not only benefit Apple and its suppliers but also contribute to the growth of the Indian economy and create job opportunities in the manufacturing sector.
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