Apple's Supplier Will Hire 13,000 Employees In India; Expects Upto Rs 24,000 Crore Revenues From India!


Sheetal Bhalerao

Sheetal Bhalerao

Feb 15, 2023


Over the next three years, Finland’s Salcomp, a supplier to Apple, plans to double its workforce in India to 25,000.

Apple's Supplier Will Hire 13,000 Employees In India; Expects Upto Rs 24,000 Crore Revenues From India!

Apple Shifting Production Away From China

The move is to target the annual revenue in the country of at least $2 billion to $3 billion by 2025, as informed by a top company executive on Monday.

These developments come when Apple is planning to  shift its production away from China after its strict COVID-related lockdowns and restrictions, and with rising trade and geopolitical tensions between Beijing and Washington.

The managing director, Salcomp Manufacturing India, Sasikumar Gendham said, “The whole supply chain is now kind of looking at an alternative. And India is poised to be one of the best alternatives,” during an industry event.

He said, “Everyone knows that the whole world has been depending on this one nation (China) over the last few decades and it’s time to really diversify and decluster,”.

Bet Big On India 

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

According to Gendham, Salcomp will have a “significant role” in Apple’s supply chain.

Salcomp employs about 12,000 at its Chennai plant presently, where it makes mostly chargers, but also other smartphone parts.

During 2020, it started the Chennai operation having reached an agreement a year earlier to take over the facility formerly owned by Finnish telecom equipment maker Nokia.

Further, Gendham expects the India business to generate at least $2 billion-$3 billion in revenue by 2025, from less than 40 billion rupees ($484 million) now.

In the meantime, Foxconn is also planning to quadruple the workforce at its iPhone factory in India over two years, as per the media report last year.

Last year, J.P.Morgan analysts estimated that a quarter of all Apple products would be made outside China by 2025, from 5% currently. 

Moving ahead, Apple wants India to account for up to 25% of its production from about 5%-7% now, said the country’s trade minister in January.

Besides this, Salcomp said that it is setting up a housing complex with entertainment and education facilities for about 15,000 people.


Sheetal Bhalerao
Sheetal Bhalerao
  • 776 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Apple
Dec. 7, 2022

Interesting Details Of iPhone 15 Ultra Revealed: Find Out Design, Specs, USPs & More

Apple 14 is barely out of the box and features and rumors of the Apple 15 series are already making rounds of the internet.  The newest reports have revealed that the iPhone 15 Pro Max is to be replaced by the brand-new iPhone 15 Ultra. With the iPhone 15 series, the corporation is also said […]

Apple
Nov. 28, 2022

Sorry, iPhones Not Available? Apple Fans Are Not Able To Buy New iPhones Due To This Reason

Hurt by production struggles in China where Apple manufactures its iPhones, holiday shoppers looking to buy the latest models had to return empty handed. Dire situation The “iPhone shortages are accelerating and were front and center this morning on Black Friday across many retailers, Apple Stores, and online channels,” Wedbush analyst Dan Ives wrote in […]

Apple
Nov. 15, 2022

The New iPhone SE 4 Can Have These Rumored Specifications: Expected Launch Date?

Apple is reportedly developing the new, fourth-generation iPhone SE.  If we go by the previous launch cycles, this low-cost iPhone could be unveiled by 2024. Display Apple may retain the small display size i.e. a 4.7-inch LCD screen. However for the latest iPhone SE 4, Apple is reportedly considering a bigger display somewhere between 5.7-inch […]

Apple
Nov. 9, 2022

Apple Stung By Rs 136 Crore Fraud Orchestrated By Indian-Origin Employee: Here’s The Modus Operandi

A former Apple employee named Dhirendra Prasad has admitted that he committed fraud that led to a loss of more than $17 million (over Rs 140 crores) for the company. His tenure at Apple He worked as a buyer for Apple’s Global Service Supply chain. He worked at the firm from 2008 to 2018 and […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online