Apple increases iPhone production in India to $14 billion, diversifying away from China.

From Nasdaq: 2024-04-10 14:26:31

Apple Inc. has produced iPhones worth $14 billion in India in the last fiscal year, as part of its strategy to diversify manufacturing away from China. The tech giant now produces around 14% of its iPhones in India, with Pegatron manufacturing 17% and Foxconn contributing 67%. Wistron produces the remainder.

Amidst strained U.S.-China relations, Apple is expanding operations outside of China, with increased production in countries like Vietnam and India. Despite its commitment to the Indian market, Apple has seen a decline in iPhone sales in China, dropping by 24% in the first six weeks of 2024. This decline has been attributed to competition from other smartphone makers, primarily Huawei. Apple also opened its first retail store in India last year.



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