Apple and Taiwanese manufacturer Foxconn are reportedly investing $1 billion to expand manufacturing of iPhones in India. Apple is aiming to export ‘Made in India’ iPhones globally, and for the first time it is expanding beyond China.
Amid the US-China trade war, Apple is also looking to expand its production in Vietnam.
Foxconn will reportedly be using its Chennai factory for Apple’s products.
Currently, Apple is assembling iPhones locally in Bengaluru in partnership with Wistron. Apple will also be sourcing components locally for its products, including the iPhone.
There is a need to source 30 per cent local components in order to set up direct retail stores in India, and this is something Apple is reportedly trying to enter into. Local manufacturing may lead to lower prices for Apple’s devices and help it compete with other premium smartphones such as OnePlus and Samsung’s high-end devices.
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