Apple looking to boost iPhone production in India to 25%: Minister
Source: Thomas Peter | Reuters
Apple is looking to make 25% of all its iPhones in India, the country’s commerce minister said on Monday.
Piyush Goyal, India’s trade and industry minister, called Apple “another success story” while talking about the business credentials of the world’s fifth largest economy.
“They are [Apple] already at about 5-7% of their manufacturing in India. If I am not wrong, they are aiming to increase to 25% of their manufacturing,” Goyal said at a conference.
An Apple spokesman declined to comment.
Last year, Apple started assembling its famous iPhone 14 in India. This was the first time that the tech giant, which is based in Cupertino, California, made its latest model in India so close to its launch. Apple has been manufacturing iPhones in India since 2017, but they were mostly older models.
a Taiwanese company Foxthe main assembler of Apple iPhones, manufactures the smartphones at its Sriperumbudur factory on the outskirts of Chennai in eastern India.
JPMorgan analysts said in a September note that Apple could make 25% of the world’s iPhones in India by 2025.
Apple has been looking to diversify production away from China, where it currently makes most of its iPhones. The sensitivity in China was revealed last year after the Covid outbreak and worker protests at the world’s largest iPhone factory in Zhengzhou, China, which is also run by Foxconn, disrupted production .
Last year, CNBC reported that India is investigating bringing some production of Apple’s iPad to the country from China.
Apple has just a 5% market share in India’s smartphone market, but CEO Tim Cook has long seen India as a growth area.