The Indian trade minister told a conference on Monday that Apple wants India to account for up to 25% of its product assembly from about 5%-7% now, as the company belatedly tries to divest a meaningful amount of its assembly away from CCP-controlled China.
“Apple, another success story,” Piyush Goyal said, pitching India as a competitive manufacturing destination. “They are 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. They launched the most recent models from India, manufactured in India.”
Goyal did not say when Apple wants to meet the target.
Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, sources told Reuters late last year.
MacDailyNews Take: Amid mounting geopolitical tensions and ongoing quixotic lockdowns in search of the unattainable myth of “zero-COVID” in China, Apple suppliers may assemble one out of every four iPhones in India by 2025, J.P.Morgan analysts said last September, as Apple looks to diversify production, especially out of CCP-controlled China.
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How about bringing 5-10% back to the USA. This continued failure to diversify should result in shareholder suits against cook’s in incompetence.