Apple Inc. has exported more than $2.5 billion of iPhones from India from April to December, Bloomberg reported on Monday (January 9). The amount is almost twice the previous fiscal year’s total. The report also highlights how some of the Western tech companies are shifting from China when it comes to production. Apple is among other big names that are exploring alternatives to China.
Reports previously revealed that China was the primary location of about 44-47 per cent of Apple suppliers’ production sites until 2019. Now the scenario is changing gradually, especially after simmering tensions between the United States and China.
Citing people familiar with the matter, the Bloomberg report noted that Foxconn Technology Group and Wistron Corp have each “shipped more than $1 billion of Apple’s marquee devices abroad in the first nine months of the fiscal year ending March 2023”.
People, who requested not to be identified, also revealed private information and told the news agency Bloomberg that Pegatron Corp. is on track to move about $500 million of the gadgets overseas by the end of January.
In a report published in Al Jazeera last month, it was mentioned that China was the primary location of about 44-47 per cent of Apple suppliers’ production sites, but Beijing’s share fell to 41 per cent in 2020. The report further mentioned that it further fell to 36 per cent in 2021.
Amid the shifting dynamics, JPMorgan has estimated Apple could make 25 per cent of all iPhones in India by 2025. Notably, Apple began assembling its latest iPhone models in India just last year, but the nation aspires to become a hub of production units, giving competition to China.
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