Apple Doubles India IPhone Production To $14 Bln

(RTTNews) - Apple Inc. (AAPL) has produced iPhones worth $14 billion in India during the last fiscal year, as part of the tech giant's production strategy to make more iPhones away from China.

Amidst the continued strained relationship between the U.S. and China, Apple has been actively diversifying its manufacturing base, by expanding operations in countries like Vietnam and India.

According to a Bloomberg report, Apple now produces around 14% of its iPhones in India, doubling the amount from the previous year. Pegatron manufactured around 17%, while Foxconn contributed about 67%, with Wistron producing the remainder.

Apple is also committed to the Indian market, made evident by the opening of its first retail store in the country last year.

Despite China remaining a crucial market for Apple, recent sales figures have shown a decline. iPhone sales dropped by 24% in the first six weeks of 2024, according to a report by Counterpoint Research. This decline has been attributed to stiff competition from other smartphone makers, primarily Huawei.