Apple CEO Tim Cook is claiming that India simply offers a “huge opportunity”, so, the firm has been ramping up iPhone production in the region.
It appears that Apple Inc (NASDAQ: AAPL) may be attempting to diversify the production of its iPhones from its manufacturing base in China. This follows after a recent Bloomberg report revealed that Apple supplier Foxconn is set to begin producing the company’s next-generation iPhone 15 in India. Interestingly, this will be the first time that a new iPhone will be made outside China before an official unveiling.
According to the report, the new phones will be manufactured at a Foxconn plant in Sriperumbudur, Tamil Nadu. And more importantly, they will be ready for delivery only a few weeks after they begin shipping from China-based factories.
Apple Says There’s Huge Opportunity in India
It might be worth noting that Apple has been aiming to make some key changes to its supply chain. That is even as tensions continue to grow between the United States and China. While the Biden-led administration has been sceptical about allowing the flow of key technologies and investments into China, China has also placed regulatory pressure on many US entities.
However, Apple CEO Tim Cook is claiming that India simply offers a “huge opportunity”. And in line with this potential, the firm has been ramping up iPhone production in the region. According to Bloomberg, Apple assembled over $7 billion worth of devices in India in the last fiscal year.
It is also worth mentioning that, before the iPhone 14 was released, iPhone production in India lagged behind that of China by up to six to nine months. However, that difference in the production timeline is now set to significantly change.
For what it’s worth though, the scale of iPhone 15 production in India will certainly depend on the availability of imported components and the ramp-up of production lines. But Pegatron and Wistron factories will soon be joining Foxconn to assemble the iPhone 15.
Apple will unveil the iPhone 15 at its annual event in September. The model is expected to have major camera updates and an improved processor.