Proactive Investors - Apple Inc (NASDAQ:AAPL) and its suppliers, including Foxconn, are set to rapidly expand iPhone production in India, the Wall Street Journal reported on Friday.
The consumer electronics giant is targeting yearly output of more than 50 million units within the next two to three years, representing a quarter of all production globally.
The expansion is part of Apple’s broader strategy to diversify its manufacturing base beyond China, amid trade tensions with the US, the media outlet noted.
In addition, Tata Group, the Indian multinational conglomerate, wants to build the country’s biggest iPhone assembly plant in the southern state of Tamil Nadu, according to Bloomberg.
Tata already owns an iPhone manufacturing plant in the state of Karnataka and has partnered with Apple to open 100 retail stores for its products across India.
Apple shipped a total of 224.7 million iPhones worldwide in 2022, Counterpoint Research estimates.
Despite the new initiatives in India, Apple and its suppliers remain committed to China, Apple CEO Tim Cook reaffirmed recently.