NI Bureau
Apple Inc. has produced iPhones worth $14 billion in India during fiscal year 2024, according to a report from Bloomberg News on Wednesday. The report, citing sources familiar with the matter, noted that Apple now manufactures approximately 14% of its flagship devices in India, equivalent to about 1 in 7 iPhones.
Foxconn was responsible for assembling nearly 67% of the India-made iPhones, while Pegatron Corp contributed around 17%, as stated in the Bloomberg report. The remaining portion was manufactured at Wistron Corp’s plant in Karnataka, which was taken over by the Tata Group last year.
Apple declined to comment on the specifics of the Bloomberg report.
Amidst geopolitical tensions between Beijing and Washington, Apple is increasingly seeking to diversify its supply chain beyond China. Despite this effort, China remains the primary manufacturing hub for iPhones worldwide.
In related news, Reuters reported on Monday that Pegatron is in advanced discussions to transfer control of its sole iPhone manufacturing facility, located near Chennai, to the Tata Group. Additionally, the consumer goods conglomerate is constructing another plant in Hosur, Tamil Nadu, with Pegatron likely to become its joint venture partner.
