Apple Produces $14 Billion Worth of Made-in-India iPhones in FY24 – News18

Apple Inc has assembled $14 billion value of iPhones in India in fiscal 2024, Bloomberg News reported on Wednesday.

Apple now makes as a lot as 14 per cent or about 1 in 7 of its marquee units from India, the report stated, citing individuals accustomed to the matter.

Foxconn assembled practically 67 per cent whereas Pegatron Corp made about 17 per cent of the India-made iPhones, the Bloomberg report added.

Wistron Corp’s plant in the southern Indian state of Karnataka, which the Tata Group took over final 12 months, made the remaining.

Apple didn’t instantly reply to a Reuters request for remark.

Apple is more and more trying to diversify its provide chain past China amid geopolitical tensions between Beijing and Washington, whilst China stays the biggest iPhone-making hub in the world.

Reuters reported on Monday that Pegatron is in superior talks handy over management of its solely iPhone manufacturing facility, positioned close to Chennai in the southern state of Tamil Nadu, to the Tata Group.

The Indian shopper items conglomerate can also be constructing one other plant in Hosur in Tamil Nadu, with Pegatron prone to emerge as its three way partnership associate.

(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – Reuters)