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Apple may move a quarter of iPhone production to India by 2025: JPMorgan

The brokerage expects Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China

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Apple Inc | iPhone | India

Reuters 



Apple
Logo of an Apple store in Washington, US (Photo: Reuters)

may make one out of four iPhones in by 2025, JPMorgan analysts said on Wednesday, as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict COVID-19 lockdowns in the country.

The brokerage expects Apple to move about 5% of 14 production from late 2022 to India, which is the world's second-biggest smartphone market after .

It is also estimating about 25% of all Apple products, including Mac, iPad, Apple Watch and AirPods, to be manufactured outside by 2025 from 5% currently.

Cupertino, California-headquartered Apple has bet big on since it began assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.

The pandemic hampered supply chain relocation plans for businesses, but with restrictions easing, more companies, including Apple, are reaccelerating these efforts this year.

"Taiwanese vendors such as Hon Hai and Pegatron play a key role in the relocation to . In the medium to long term, we also expect Apple to qualify local India manufacturing suppliers," according to J.P.Morgan analysts led by Gokul Hariharan, who is rated 4 out of 5 for estimates accuracy.

A Bloomberg report said earlier this month that Indian conglomerate Tata Group was in talks with Wistron to establish a joint venture to assemble iPhones in the country amid Apple's plans to cut production lag with .



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, September 21 2022. 16:18 IST

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