With rising geopolitical tensions, Apple Inc. accelerated its transition away from China by exporting more than $2.5 billion worth of iPhones from India between April and December. This figure was nearly twice as high as the sum for the prior fiscal year.
In the midst of rising geopolitical tensions, Apple Inc. exported more iPhones from India than it did from April to December, amounting to more than twice the amount exported from China during the previous fiscal year.
India’s iPhone exports details
In the first nine months of the fiscal year ending March 2023, Foxconn Technology Group and Wistron Corp. shipped more expensive Apple products abroad than $1 billion apiece, according to sources with knowledge of the situation.
According to the people who asked not to be identified because the information is secret, Pegatron Corp., another significant Apple contract manufacturer, is on track to export around $500 million worth of the devices by the end of January.
Apple is expanding operations outside of China, where the disruption at Foxconn’s primary facility in Zhengzhou exposed supply chain flaws and forced the Cupertino, California-based corporation to lower output forecasts, as seen by the company’s quickly climbing export figures.
With consumers weighing the risks of a worldwide recession, that exacerbated a larger issue with electronics demand disappearing.
The most valuable business in the world, Apple, only started assembling its newest iPhone models in India last year, breaking with tradition by reserving a large portion of those jobs for massive Chinese factories owned by its primary Taiwanese suppliers, including Foxconn.
Despite the fact that India contributes only a small portion of the world’s iPhone production, increasing exports are encouraging for Prime Minister Narendra Modi’s goal of positioning India as a viable alternative to China as the world’s factory.
