Cutting Reliance on China, Apple To Move 25% iPhone Production To India By 2025 - JPM
Apple began assembling some of its devices in India and Vietnam a few years ago, slowly cutting its reliance on China. The Cupertino-giant is now gearing up to make the two nations key global manufacturing hubs, according to analysts at JP Morgan. From a report: In a report they sent to clients Wednesday, JP Morgan analysts said Apple will move 5% of global iPhone 14 production to India by late 2022, and expand its manufacturing capacity in the country to produce 25% of all iPhones by 2025. Vietnam, on the other hand, will contribute 20% of all iPad and Apple Watch productions, 5% of MacBook and 65% of AirPods by 2025, the report said, which was reviewed by TechCrunch. India has attracted investments from Foxconn and Wistron in recent years by offering lucrative subsidies as New Delhi moves to make the country a manufacturing hub. The presence of the foreign production giants, coupled with 'ample labor resources and competitive labor costs,' make India a desirable location, the analysts said.
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