Apple's India iPhone output hits $14 bln, Bloomberg News reports (updated)

Wistron

10/04/2024 05:47

(Adds details from the Bloomberg report in paragraph 3,
background in paragraph 4 onwards)
       April 10 (Reuters) - Apple Inc  AAPL.O  has assembled
$14 billion worth of iPhones in India in fiscal 2024, Bloomberg
News reported on Wednesday.
    Apple now makes as much as 14% or about 1 in 7 of its
marquee devices from India, the report said, citing people
familiar with the matter.
    Foxconn  2317.TW  assembled nearly 67% while Pegatron Corp
 4938.TW  made about 17% of the India-made iPhones, the
Bloomberg report added. Wistron Corp's  3231.TW  plant in the
southern Indian state of Karnataka, which the Tata Group took
over last year, made the remaining. 
    Apple did not immediately respond to a Reuters request for
comment.
    Apple is increasingly looking to diversify its supply chain
beyond China amid geopolitical tensions between Beijing and
Washington, even as China remains the largest iPhone-making hub
in the world.
    Reuters reported on Monday that Pegatron is in advanced
talks to hand over control of its only iPhone manufacturing
facility, located near Chennai in the southern state of Tamil
Nadu, to the Tata Group.
    The Indian consumer goods conglomerate is also building
another plant in Hosur in Tamil Nadu, with Pegatron likely to
emerge as its joint venture partner.


 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Janane
Venkatraman
)
 ((rishabh.jaiswal@thomsonreuters.com;))