Apple and its supplier Foxconn aim to build more than 50 million iPhones in India annually within the next 2-3 years and plan to increase this further by the end of the decade. India would account for a quarter of global iPhone production if they achieve these targets. China will remain the largest iPhone producer. Foxconn plans to build more factories in India to facilitate increased iPhone production. This would give India a much bigger role in iPhone manufacturing, which is currently limited mostly to China. Moving significant iPhone production out of China presents challenges for Apple in replicating Foxconn's large, optimized production facilities and ecosystem in other countries like India and Vietnam.
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00:00 It's Benzinga and here's what's on the block.
00:02 Apple and its supplier, Foxconn, aim to build more than 50 million iPhones in India annually
00:07 within the next two to three years and plan to increase this further by the end of the
00:11 decade.
00:12 India would account for a quarter of the global iPhone production if they achieve these targets.
00:17 China will remain the largest iPhone producer.
00:20 Foxconn plans to build more factories in India to facilitate increased iPhone production.
00:24 This would give India a much bigger role in iPhone manufacturing, which is currently limited
00:29 mostly to China.
00:30 Moving significant iPhone production out of China presents challenges for Apple in replicating
00:35 Foxconn's large, optimized production facilities and ecosystem in other countries like India
00:40 and Vietnam.
00:41 For all things money, visit Benzinga.com.
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