Goodbye, China! Apple has increased iPhone production in India

Apple is reducing its dependence on China and produced $14 billion worth of smartphones in India in the last fiscal year.

Here's What We Know

In recent years, amid deteriorating relations between the US and China, the corporation has been working to change its supply chain and expand production in Vietnam and India. Today, Apple produces approximately 1 in 7, or 14% of its iPhones in India, which is double the number it produced there last year.

In June 2023, Apple CEO Tim Cook and other tech executives met with Indian Prime Minister Narendra Modi at the White House. Cook told CNBC at the time that India offered "great opportunities".

However, China remains a key market for the company to this day, even though sales this year have started poorly. A report by Counterpoint Research in March showed that iPhone sales in China fell 24% in the first six weeks of 2024.

Source: CNBC