According to a Wednesday Bloomberg News story, Apple Inc. produced iPhones valued over $14 billion in India during the 2024 fiscal year.
According to the report, which cited people familiar with the situation, Apple currently sources up to 14%, or roughly one in seven, of its flagship smartphones from India.
According to Bloomberg research, Foxconn manufactured approximately 67% of the iPhones made in India. Meanwhile, Pegatron Corp produced about 17%. The remainder was produced at the Wistron Corp. facility in the southern Indian state of Karnataka, which the Tata Group acquired last year.
Apple declined to comment on the Bloomberg report.
Despite China remaining the world’s largest center for iPhone production, Apple is progressively diversifying its supply chain outside of China. This move comes in light of the geopolitical concerns between Beijing and Washington.
According to a story published by Reuters on Monday, Pegatron is in advanced talks with the Tata Group. The talks involve transferring management of its sole iPhone production facility, located in the southern state of Tamil Nadu, close to Chennai.
The Indian consumer products company is also constructing a second plant in Hosur, Tamil Nadu. Additionally, Pegatron is likely to be involved in a joint venture.
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