According to Bloomberg News, Apple Inc will produce $14 billion worth of iPhones in India in fiscal 2024.
According to the report, Apple currently manufactures up to 14%, or roughly one in every seven of its marquee smartphones, in India, citing people familiar with the situation.
According to Bloomberg, Foxconn assembled about 67% of the iPhones made in India, while Pegatron Corp produced approximately 17%. The other components were manufactured at Wistron Corp’s factory in Karnataka, which the Tata Group acquired last year.
Apple did not immediately respond to Reuters’ request for comment.
Amid geopolitical tensions between Beijing and Washington, Apple is increasingly attempting to expand its supply chain beyond China, despite the fact that China remains the world’s largest iPhone manufacturing hub.
According to Reuters, Pegatron is in advanced talks with the Tata Group about handing over management of its single iPhone manufacturing facility near Chennai.
The consumer products firm is also establishing another plant in Hosur, Tamil Nadu, with Pegatron likely to join as a joint venture partner.