Apple is reportedly looking to increase the percentage of iPhones that are manufactured in India. According to a statement made by India’s IT Minister, Ravi Shankar Prasad, the company is planning to manufacture 25% of its iPhones in the country.
This move is seen as a way for them to tap into India’s growing smartphone market and reduce its reliance on China, where the majority of its devices are currently manufactured. India is the second-largest smartphone market in the world and has a rapidly growing middle class that is increasingly buying high-end smartphones.
The Indian government has been encouraging companies to manufacture their products in the country through a program called “Make in India.” This initiative aims to boost the country’s manufacturing sector and create jobs. Apple’s decision to manufacture more iPhones in India is seen as a win for the program and the country’s economy.
Apple’s manufacturing partner in India is Foxconn, which already has a factory in the southern state of Tamil Nadu. The company plans to expand this factory to increase production capacity. This move is expected to create jobs and boost the local economy.
However, there are some concerns about the decision. India’s manufacturing sector is not as developed as China’s, and there may be challenges in terms of finding skilled labor and setting up supply chains. Additionally, the Indian government’s recent changes in tax policies may be a hindrance to Apple.
Apple started producing the iPhone 14’s top model in India last year. The Cupertino, California-based computer giant developed its most recent model in India for the first time this close to its release. Although these were mostly older models, Apple started producing iPhones in India in 2017.
Even though Apple only has a 5% market share in India’s smartphone market, CEO Tim Cook has long eyed the country as a potential growth market.
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