Apple aims to increase iPhone production in India to 25%: minister

Source: Thomas Peter | Reuters

Apple plans to manufacture 25% of all of its iPhones in India, the country’s trade minister said on Monday.

Piyush Goyal, India’s Minister for Trade and Industry, called Apple “another success story” when touting the business credentials of the world’s fifth largest economy.

“They are [Apple] already at about 5-7% of their production in India. If I’m not mistaken, they are aiming to increase their production to 25%,” Goyal told a conference.

An Apple spokesman declined to comment.

Last year, Apple began assembling its flagship iPhone 14 in India. It was the first time the Cupertino, California-based tech giant had produced its latest model so close to its Indian launch. Apple has been making iPhones in India since 2017, but those were mostly older models.

Taiwanese company Foxconnthe main assembler of Apple’s iPhones, makes the smartphones at its factory in Sriperumbudur on the outskirts of Chennai in eastern India.

Analysts at JPMorgan said in a September note that Apple could make 25% of all iPhones worldwide in India by 2025.

Read more about technology and crypto from CNBC Pro

Apple has attempted to diversify manufacturing away from China, where it currently makes the majority of its iPhones. Fragilities in China were exposed last year after a Covid outbreak and worker protests halted production at the world’s largest iPhone factory in Zhengzhou, China, also operated by Foxconn.

Last year, CNBC reported that India is looking into bringing some of Apple’s iPad production from China to the country.

Apple only has a 5% share of the Indian smartphone market, but CEO Tim Cook has long seen India as a potential growth area.

Leave a Reply

Your email address will not be published. Required fields are marked *