Apple suppliers ramped output of iPhones in India in 2023, with assembly more than doubling year-on-year to account for about 14 per cent of the vendor’s total as it reduces reliance on China, Bloomberg reported.
The news agency pegged the value of iPhones assembled in India in 2023 at $14 billion, split between contract manufacturers Foxconn, which handled 67 per cent of output, Pegatron (about 17 per cent) and Wistron the remainder.
In late 2022, TF International Securities analyst Kuo Ming-Chi estimated 2 per cent to 4 per cent of total iPhone production was handled in India and noted Apple’s longer-term plan was to shift 40 per cent to 45 per cent of assembly out of China and into the country.
Also in 2022, Foxconn reportedly accelerated a move to shift iPhone assembly to India, as Apple called on suppliers to diversify supply chains to reduce reliance on China.
Apple faces a delicate balance as it moves production out of China, where demand for iPhones has declined over the past two fiscal quarters.
China Academy of Information and Communications Technology data showed shipments of non-domestic smartphones dropped 31.7 per cent year-on-year in February to about 2.4 million units, with the iPhone taking the greatest hit.
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