US company Apple is largely dependent on China for the production of its core product iPhone. But now Apple is turning to India to reduce its dependence on China.
Apple is investing heavily in the country to transform India into an iPhone manufacturing hub. India still needs a long time to reach China-like capacity, but production in the country has grown significantly.
Ming-Chi Ko, Apple’s business data analyst and impartial blogger, recently reported in a report that 14 percent of all iPhones sold worldwide in 2023 will be produced in India.
Ming-Chi Ko also said in a report written on the US-based online publishing platform Medium on November 1, that Foxconn produced about 80 percent of the total iPhones produced in India. This company is the largest manufacturer of iPhones in the world.
Foxconn has said it will double its investment in India over the next year.
Ming-Chi Ko estimates that the size of Foxconn’s factory in Zhengzhou, China, could shrink by at least 35 to 45 percent by 2024. Besides Foxconn, other manufacturers are also moving their factories from China to India.