Apple is reportedly planning to make smartphones worth $40 billion in India over the course of five years. If this is true, the American smartphone firm is likely trying to cut its Chinese production dependence to a reasonable degree.
The Economic Times reports that there have been many meetings between high ranking executives of Apple and Indian government representatives. Their decision may see a significant chunk of Apple’s iPhone production move to India. The article pegs the figure at about a fifth.
This may have stemmed from the recent pandemic case. At the height of the COVID-19 pandemic in China, Apple had to close all its stores as well as its factories.
The closure had also put its 2020 line-up of iPhone in jeopardy as well. However, since the wave has passed and the restrictions placed on activities have been lifted, the company is allegedly on track to meet some of its expectations.
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Yet, there is still the question of what would have happened if it had been worse. Thus, this decision may be seen as Apple trying not to put all its eggs into a basket.
Economic Times says that a government official confirmed the decision to it saying:
“We expect Apple to produce up to $40 billion worth of smartphones, mostly for exports through its contract manufacturers Wistron and Foxconn, availing the benefits under the production-linked incentive (PLI) scheme.”
Meanwhile, Apple has not issued an official statement on the matter. But there are some inside sources that claim that some of the clauses in the government’s PLI scheme needed to be agreed upon first.
China may not be the only major smartphone production hub for long if this agreement goes through. It is also likely that other smartphone companies like Samsung may start exploring Indian options.
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