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Apple targeting to raise iPhone production share in India to 25%, minister says

Apple targeting to raise iPhone production share in India to 25%, minister says
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Last year, analysts at J.P. Morgan estimated that almost one-fourth of all Apple products would be made outside China by 2025.

 

American consumer tech giant Apple wants to increase its iPhone production share in the country to 25%, India’s Commerce and Industry Minister Piyush Goyal said on Monday. However, Goyal did not state when the iPhone maker will achieve this target.

 

“They (Apple) are already at about 5-7 percent of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25 percent of their manufacturing. They launched the most recent models from India, manufactured in India,” the minister said and as quoted by Reuters.

 

Yesterday, India’s electronics and information technology minister Ashwini Vaishnaw Tweeted that iPhone exports from India had hit $1 billion in December. He referred to a report by The Economic Times that claims that Apple overtook South Korean consumer tech giant Samsung to become the leading mobile phone exporter in November.

 

 

Last year, analysts at J.P. Morgan estimated that almost one-fourth of all Apple products would be made outside China by 2025. The iPhone maker currently manufactures around 5% of all its product outside China.

 

The numbers underscore Apple’s shift from manufacturing in China amid the chaotic situation at its facility in Zhengzhou city due to the country’s zero-Covid policy. Production at the world’s largest iPhone plant was affected due to the tumult at what is also known as the iPhone city where workers protested against the delay in bonuses, food shortages, and poor living conditions caused by the stringent Covid restrictions in the country.

 

Meanwhile, iPhone exports from India nearly doubled in the first nine months of the fiscal year ending March 2023, Bloomberg reported earlier this month. Apple exported over $2.5 billion of iPhones in April-December from the country. More than $1 billion in iPhones have been shipped abroad each by Foxconn Technology Group and Wistron Corporation in April-December. Another major contract manufacturer for Apple – Pegatron Corporation – is on track to move about $500 million of the devices overseas by the end of January, sources told Bloomberg.

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