Apple plans to increase its production capacity in India and assemble around a quarter of its smartphones in the country, Indian Commerce Minister Piyush Goyal said on Monday.
MOSCOW (Pakistan Point News / Sputnik - 23rd January, 2023) Apple plans to increase its production capacity in India and assemble around a quarter of its smartphones in the country, Indian Commerce Minister Piyush Goyal said on Monday.
"They're (Apple) already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing," he said at a conference, as quoted by CNBC.
In September, Apple announced it was ready to launch production of its latest iPhone 14 in India. Devices are supposed to be assembled at a Foxconn factory near the Indian city of Chennai. Foxconn is the world's largest contract electronics manufacturer and main assembler for Apple.
According to JPMorgan's reports, around 5% of Apple's iPhone 14 manufacturing will likely be relocated to India in 2023, starting from the end of last year, and will reach 25% by 2025. That year, Apple is also planning to have almost 25% of all its devices assembled outside China.
