Apple Ramps Up India Manufacturing and Sales Amid Expansion Beyond China
- India is projected to become one of the world's largest economies, making it an attractive growth market for Apple.
- Apple has rapidly grown iPhone sales in India to become its fifth largest market as it focuses on distribution and affordability.
- Apple supplier Foxconn is investing heavily in new India factories, buying $33 million of Apple equipment, aiming for 25% local iPhone production.
- India's large population, growing middle class, and increasing demand for luxury goods provide major expansion opportunities.
- Apple aims to reduce dependence on China manufacturing amid trade tensions by accelerating supply chain growth in India.