Last year, Apple accounted for 25 percent of India's total smartphone shipment value.
The South China Morning Post reported that the volume and value of iPhones made in India increased last year as Apple moved its production away from China to diversify its supply chain.
The shipment volume of iPhones manufactured in India has increased by 65 percent year-on-year in 2022. In addition, the value of the iPhone increased by 162 percent, the South China Morning Post reported last week, citing a report published by market research firm Counterpoint.
Last year, Apple accounted for 25 percent of India's total smartphone shipment value, which is projected to rise from 12 percent in 2021, the South China Morning Post reported, citing A Counterpoint.
In a South China Morning Post report, Xinmei Shen said, China produces 85 percent of iPhones worldwide. However, Beijing risks losing its dominance as Apple moves to move its manufacturing supply chain out of China.
According to a South China Morning Post report, Apple is among the global tech brands looking to reduce their reliance on China for manufacturing amid rising tensions between Beijing and Washington and production disruptions in China due to the Chinese government's strict COVID-19 measures.
In 2020, India launched a USD 6.65 billion scheme offering incentives to global smartphone manufacturers to relocate their production to the country. Apple contract manufacturer Foxconn Technologies is looking to invest around USD 700 million in a new plant in India, according to a news report.
The decision has raised concerns among social media users in China that the country risks losing its primary role in Apple's manufacturing supply chain, Xinmei Shen said in a news report. India is expected to assemble 50 percent of Apple's iPhones by 2027, up from less than 5 percent currently, the South China Morning Post reported in January, citing a forecast by Taiwan's Digitimes Research.
As reported by the South China Morning Post, this production will put India at par with the scale of production in mainland China. Foxconn, formally known as Hon Hai Precision Industry, scrambled to restore full production capacity at its manufacturing complex in Zhengzhou after severe disruptions that included worker protests and the exodus of thousands of employees amid the Covid-19 outbreak.
On March 5, Foxconn announced a major investment in Karnataka that will create more than one lakh jobs, according to an official statement. Around 300 acres of land has been identified for this purpose near Bengaluru International Airport in Dodballapura and Devanahalli talukas.
Young Liu met Prime Minister Narendra Modi during his visit to India. They discussed topics related to enhancing India's tech and innovation ecosystem.
Hon Hai Technology (Foxconn) tweeted, “Chairman Young Liu is visiting India. Today we met with Hon'ble Prime Minister @narendramodi and updated him about our good progress in the country. Foxconn will continue to build an ecosystem in India to allow all. For our stakeholders to share, collaborate and grow.”
In response to Hon Hai Technology Group's (Foxconn) tweet, PM Modi tweeted; “Had a good meeting with Young Liu. Our discussions covered various topics aimed at enhancing India's tech and innovation eco-system.”
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