Apple wants to move 20% of their iPhone production out of China… and into India.
The shifted investment would be worth a massive $40 billion over the next 5 years.
According to reports, Apple is in high-level talks with the Indian government to discuss the move.
“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,” said a source, speaking to the Economic Times.
Apple joins a number of companies in exploring moving manufacturing out of China, as a direct response to the coronavirus pandemic. The Chinese Communist Party has received piercing international criticism over their handling of the crisis–and how their months of inaction and outright lying helped coronavirus go global.
India, the world’s largest democracy, has jumped at the opportunity to take some business, passing a big incentives program to boost mobile phone manufacturing over the next three years.
Were Apple to break up with China, they would be India’s largest exporter–and China would lose one of theirs.
