Apple may move a quarter of iPhone production to India by 2025: JP Morgan : The Tribune India

Apple may move a quarter of iPhone production to India by 2025: JP Morgan

The tech giant has moved some production away from China, amid mounting geopolitical tensions

Apple may move a quarter of iPhone production to India by 2025: JP Morgan

Photo used for representational purpose only. iStock

Reuters

September 21

Apple Inc may make one out of four iPhones in India by 2025, J.P.Morgan analysts said on Wednesday, as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict COVID-19 lockdowns in the country.

The brokerage expects Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China.

It is also estimating about 25% of all Apple products, including Mac, iPad, Apple Watch and AirPods, to be manufactured outside China by 2025 from 5% currently.

Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.

The pandemic hampered supply chain relocation plans for businesses, but with restrictions easing, more companies, including Apple, are reaccelerating these efforts this year.

"Taiwanese vendors such as Hon Hai and Pegatron play a key role in the relocation to India. In the medium to long term, we also expect Apple to qualify local India manufacturing suppliers," according to J.P.Morgan analysts led by Gokul Hariharan, who is rated 4 out of 5 for estimates accuracy.

A Bloomberg report said earlier this month that Indian conglomerate Tata Group was in talks with Wistron to establish a joint venture to assemble iPhones in the country amid Apple's plans to cut production lag with China.

 

Tribune Shorts


Top News

Mallikarjun Kharge emerges as consensus face for Congress presidency; Digvijay to propose his name

Mallikarjun Kharge set to be next Congress chief as Gandhi loyalists, G23 back him; Tharoor his challenger

It is 80-year-old former 9-term MLA and a 3-term MP Kharge v...

Punjab Assembly session: Partap Bajwa demands assurance from CM on action against Fauja Singh Sarari

Amid din over opposition's demand for action against Fauja Singh Sarari, Punjab Assembly passes 3 Bills

There is a heated argument between MLA Sukhpal Khaira and Sp...

Putin signs documents to incorporate territories of Ukraine into Russian Federation

Putin illegally annexes Ukrainian regions as part of Russia

Ukraine immediately countered with a surprise application to...

Second ‘referendum’ in November to test India-Canada ties

Second 'referendum' on Khalistan in November to test India-Canada ties

After the first referendum, both countries have issued trave...


Cities

View All