What you need to know
- Apple is planning to invest $1 billion in India to ramp up production
- Foxconn and other suppliers are partnering with Apple on the investment
- The move comes as Apple plans to export "Made In India" products globally
Apple is working with Foxconn and suppliers to invest another $1 billion in India, according to the Times of India. An unnamed official spoke with the Times about how the investment will be used by Apple and its partners, saying that "testing is under way" for the products being made at the factories:
"Apple will be investing $1 billion in India through its partners. They have said the production will be used for meeting the demand of its products across global markets."
The move comes as Apple is planning on exporting its "Made In India" iPhones and other products globally. The company had already begun limited local production of certain models at a different partner factory in Bangalore, but Foxconn seems to be taking on the new expansion:
Foxconn, Taiwan's contract manufacturing behemoth and the biggest production partner for Apple globally, will be investment partner for the iPhone maker's latest push. Its factory in Chennai will be used to manufacture products for Apple's global markets. Also, a host of component suppliers to the company will be making investments in the region for the local push.
According to 9to5Mac, Apple has been planning on moving up to 30% of its device production out of China over the next few years as the company seeks to protect its supply chain and diversify its production process. As the trade war with the country continues, this new report shows that those plans continue to gain momentum.