iPhone Maker Adds New Plant In Chennai For Making More Made In India iPhones! Foxconn Is Ditching China?
Apple supplier Foxconn is reportedly increasing iPhone production capacity by giving it over to an existing factory in India.
With this move Apple intends to diversify its supply chain beyond China.
Foxconn, the world’s biggest electronics contract manufacturer, will soon begin phone production in a new building at an existing factory near Chennai.
This comes after the company’s hiring spree in the country in recent weeks.
Foxconn in India
In recent years, Apple and Foxconn have ramped up efforts to expand their supply chains outside China, especially in India and Vietnam, which incentivise local production.
Foxconn has been seeking to build up its presence in India for years.
In 2015, the company said it would build 12 factories in the country, employing nearly 1 million workers.
Presently it has just the one plant close to Chennai.
Apple’s future in India
Apple is looking at India as the next key growth driver for the company.
Prominent securities analyst, Ming Chi Kuo broke the news, saying that it is looking to India while it tries to reduce the geopolitical impacts on supply.
Apple has a long-standing history in India, which began more than 20 years ago.
It launched its online store in September 2020, and is set to bolster its presence with the imminent launch of the Apple Store.