exported companyCameliPhone is worth more than $2.5 billion India In the period from April to last December, which represents almost double the total number recorded in the previous fiscal year, confirming that the American tech giant is accelerating the pace of its transformation from China With the escalation of geopolitical tensions.
shipped everythingFoxconn technology groupFoxconn Technology Group and Wistron Corp shipped more than $1 billion worth of Apple devices overseas in the first nine months of the fiscal year ending March 2023, people familiar with the matter said.
The people, who asked not to be identified over private information, added that Pegatron Corp., another major Apple contract manufacturer, is in the process of shipping $500 million worth of devices overseas within the end of January.
Exports of “Apples” from India are growing
Apple’s rapidly growing iPhone export numbers illustrate how the company is ramping up operations outside of China, as chaos at Foxconn’s main factory in Zhengzhou exposed the company’s weaknesses. supply chain The Cupertino company forced it to cut production estimates. This has exacerbated a larger problem as demand for electronics evaporates as consumers weigh the risks slow Global.
“Apple” shares lose their luster in 2023 due to demand and production problems
Apple, the world’s most valuable company, began assembling its latest iPhone models in India just last year, marking a significant departure from its practice of limiting much of production to giant Chinese factories run by large Taiwanese including “Foxconn”.
Although India accounts for only a small fraction of iPhone production, the increase in exports bodes well for the prime minister’s plan. Narendra Modi On presenting your country to the world as an alternative to China as a factory.
China’s “zero Covid” policies and protests at its Zhengzhou factory – dubbed “iPhone City” for being the world’s largest manufacturing center for the device – have highlighted the dangers of China’s dependence. While Beijing has since abandoned this approach to contain the virus, Apple and other big brands are exploring alternative venues more than ever.
