Foxconn, Apple’s key iPhone assembler, has accelerated its expansion in India by purchasing $33 million worth of equipment from an Apple unit over the past year.
An Indian subsidiary of the Taiwanese company, Foxconn, acquired equipment from Apple Operations Ltd. for operational needs, according to a filing from Foxconn’s Taipei-listed flagship unit Hon Hai Precision Industry Co.
In May, India’s Minister of State for Technology Rajeev Chandrasekhar said that Apple is interested in increasing electronics production in the country, a month after the US company’s Chief Executive Officer Tim Cook renewed a pledge to invest in the region during a meeting with Prime Minister Narendra Modi.
Apple Inc. tripled iPhone production and assembled more than $7 billion of iPhones in India last fiscal year, making almost 7% of its handsets in the country. Meanwhile, Foxconn is planning to invest about $700 million to build a new plant in the southern Indian state of Karnataka partly to ramp up local production of iPhone parts, Bloomberg News has reported.
MacDailyNews Take: Faster, Apple, to make up for being years late!
The time to accelerate plans to move production out of China was November 9th 2016, but, hey, six years late is better than never! – MacDailyNews, December 4, 2022
Smart companies have finally woken up and are working to diversify their supply chains away from, and reduce risky reliance on, CCP-controlled authoritarian China. – MacDailyNews, October 21, 2022
Apple should have been diversifying production long ago to minimize risk, not to mention China’s human rights abuses, authoritarian censorship, and myriad other concerns, including “COVID” lockdowns. – MacDailyNews, June 1, 2022
It’s smart for both Apple and Foxconn to diversify assembly outside of China. There’s no sense having all of your eggs in one basket. — MacDailyNews, April 2, 2019
The real virus is the panic. – MacDailyNews, March 9, 2020
See also: Tim Cook firmly latched Apple onto China’s CCP teat. What’s his plan for weaning it off? – November 2, 2022
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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
India is going to be huge. As everyone has said this is the “China in the beginning” setup for India as it comes online full throttle. The sales of Apple products have always been aspirational but by manufacturing in India the import taxes disappear and make the products more affordable.