According to the India Electronics and Mobile Association, smartphone export volume in India doubled, reaching over $11 billion from March last year to March this year. Apple accounts for nearly half of the total export value, estimated at $5 billion to $5.5 billion by analysts, with Samsung coming in second at around $4 billion.Foxconn commenced production of the iPhone 14 in India last year, marking the first time Apple's latest product is assembled in India. I believe this is a positive move by Apple to reduce reliance on manufacturing in China and diversify its supply chain network further. This is understandable because if a manufacturer relies solely on one country, there will be extremely high risks.
For those who are unaware, the number of component manufacturing partners for Apple products in Vietnam reached 25 by the end of last year, including renowned companies like Lux Share, Foxconn, Compal, GoerTek, alongside India and China. Vietnam is undoubtedly becoming a key player in Apple's supply chain.According to analysts at JP Morgan, Apple plans to increase iPhone production in India and aims to account for up to 25% of the total iPhone production by 2025. It seems reasonable as Apple expands its ambitions in the Indian market, evidenced by their preparations to open two Apple Stores in New Delhi and Mumbai.Source: TechCrunch