Taiwanese manufacturer Foxconn is reportedly preparing to inject $1 billion into a production plant in India, which is said to be an investment backed by Apple.
Reuters quoted insiders as saying that due to obstacles such as the coronavirus pandemic, Apple is quietly pushing its supply partners to expand beyond China. A source familiar with the matter pointed out that Apple orders its customers to move some iPhone production out of China.
As the world's second-largest smartphone market, India has become a region valued by Apple. Currently, the iPhone accounts for about 1% of the country’s smartphone market, but it occupies the ultra-high-end market with a market share of about 63%. Moreover, India has been seeking technology companies to enter India through tax incentives and other stimulus plans.
Image Via 9to5Mac
“There’s a strong request from Apple to its clients to move part of the iPhone production out of China,” one of the sources with direct knowledge of the matter told Reuters.The report suggests Foxconn aims to expand the operation of its Sriperumbur factory, currently responsible for the production of the iPhone XR. In the next three years, Foxconn will add additional models to the factory assembly list. The report also pointed out that up to US$1 billion of capital injection will generate around 6,000 jobs.
As the world's second-largest smartphone market, India has become a region valued by Apple. Currently, the iPhone accounts for about 1% of the country’s smartphone market, but it occupies the ultra-high-end market with a market share of about 63%. Moreover, India has been seeking technology companies to enter India through tax incentives and other stimulus plans.
Image Via 9to5Mac
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