Apple is set to unveil its highly anticipated iPhone 16 series, which boasts new AI features, on Monday, with global sales expected to begin 10 to 12 days later
The Chennai-based company is targeting over a 40 percent rise in its revenue in the next two years
Southern states have all made offers to Foxconn to establish large industrial parks or townships, as the Apple manufacturer eyes expansion in India
Pictures of an iPhone 16 Pro box with "Assembled in India" label have reportedly surfaced on the Chinese social media platform Weibo
iPhone 16 Pro and Pro Max trial assembly begins in India by Foxconn with production costs expected to decrease by 10%. But retail prices in India may remain the same due to tax and component costs
The initial batch of iPhone 16 Pro and Pro Max models will be imported, but Apple will begin local assembly for both domestic and export markets soon after
Firm commits export target of $9 billion for FY25
Apple CFO Luca Maestri further highlighted the strong performance for Mac products in emerging markets, including India, during the call
Sharpest price is for iPhone SE assembled in India; other models become cheaper too
The decision to assemble in India paid off even though it was focused on exports in the beginning. In FY19, only 10% of Apple's phones sold in India were assembled in India, a figure that has now grow
The company has partnered with two Indian companies to enhance its capabilities and intends to eventually export these complex machines
Taiwanese electronics manufacturer Foxconn has invited bids to construct a plant in Karnataka with an outlay of Rs 1,200 crore, according to sources. The project will be executed through Foxconn Hon Hai Technology India Mega Development Pvt. The Karnataka government has approved an investment proposal of around Rs 22,000 crore from Foxconn. "Foxconn's recent bid for plant construction is for an iPhone factory which it is setting up in Karnataka," a source aware of the development said. On February 6, Foxconn had said in a regulatory filing that the announcement about inviting bids was on behalf of its subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant. The source said the Rs 1,200 crore bid is not for the company's semiconductor joint venture with HCL. Last month, Foxconn Hon Hai Technology India Mega Development Pvt Ltd had allocated USD 37.2 million or about Rs 308 crore for setting up a semiconductor joint venture with .
Tata is building the iPhone assembly plant in Hosur city, which will be its second such facility in the country. The move comes as Apple and its contract manufacturers are rapidly expanding
The Competition Commission of India (CCI) on Tuesday said it has cleared Tata Electronics' proposed acquisition of Taiwan-based Wistron's operations in India. Wistron Infocomm Manufacturing (India) operates an iPhone assembly plant near Bengaluru. In October last year, Wistron Group announced it has agreed to sell a plant in Bengaluru to the Tata Group. According to an update on the CCI's website on Tuesday, the regulator has cleared the deal between Tata Electronics and Wistron. Tata Electronics proposes to acquire 100 per cent of the Wistron Infocomm Manufacturing (India) equity share capital from SMS Infocomm (Singapore) Pvt Ltd (SMS Infocomm) and Wistron Hong Kong Ltd (Wistron HK), as per a notice submitted to the regulator. SMS Infocomm and Wistron HK owned 99.99 per cent while 0.01 per cent of the Wistron Infocomm Manufacturing (India) share capital on a fully diluted basis, respectively. Wistron InfoComm Manufacturing (India) was incorporated in 2017 by the Wistron group.
The distance India has to cover can be seen from the fact that China contributed 8.3 per cent of the top 20 manufacturing companies' global revenue at $279.4 billion
The key Apple supplier will create a capacity that can assemble 20 million iPhones annually at the assembly unit in Karnataka
The news comes as Hon Hai, also known as Foxconn, and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China
About a quarter of iPhone assembly would happen in India from 2024, noted Apple analyst Ming-Chi Kuo in his blog on Medium
A report released by BofA said that the share of India in iPhone manufacturing may even go higher if Apple's vendors expand here
Apple will likely try to manufacture the next iPhones in India at the same time as in China, sometime in the fall of 2023