Apple exported iPhones worth more than $2.5 billion from India from April to December 2022, nearly twice the entire previous fiscal year’s total, underscoring how the company is belatedly working to reduce its dependence on China.
Foxconn Technology Group, known as Hon Hai Precision Industry Co in Taiwan, and Wistron Corp had each shipped more than US$1 billion of Apple’s marquee devices abroad in the first nine months of the fiscal year ending in March, people familiar with the matter said.
Pegatron Corp, another major contract manufacturer for Apple, is on track to move about US$500 million of the gadgets overseas by the end of this month, the people said.
Apple’s rapidly growing export numbers illustrate how it is ramping up operations outside of China, where chaos at Foxconn’s main plant in Zhengzhou exposed vulnerabilities in the Cupertino, California-headquartered company’s supply chain and forced it to trim output estimates.
Apple’s contract manufacturers make iPhones at plants in southern India, but production in the nation is just beginning. About 3 million of the devices were made in India in 2021, compared with 230 million in China, according to Bloomberg Intelligence estimates.
Foxconn began making the iPhone 14 in India a few months ago — sooner than anticipated — after a surprisingly smooth production rollout that slashed the lag between Chinese and Indian output from months to weeks.
MacDailyNews Take: It’s a start.
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Let the big shift begin!
Let the big sh!t begin!