Apple Inc. is an American multinational technology company specializing in consumer electronics, software, and online services headquartered in Cupertino, California, United States. It started the process of shifting some of its iPhone production from China to India back in 2020 and now is planning the same for AirPods and Beats.
Nikkei, the stock market index of Tokyo Stock Exchange, revealed that the Cupertino-headquartered company has directed its suppliers to relocate production to India, with the March 2023 goal to double exports.
The Nikkei report reveals that Foxconn, the prominent iPhone assembler, is preparing to make Beats headphones in the country and plans to subsequently produce AirPods there as well. This decision will be a big win for New Delhi, fuelling its attempts to rise in the global supply chain.
The process of manufacturing iPhones in India and shipping to Europe and the Middle East costs $1 billion. This figure may touch $2.5 billion in March 2023, following the production relocation. According to Counterpoint Research, India’s share in the global handset production market is growing from around 9% in 2016 to 16% in 2021.
