What you need to know
- Three Apple manufacturers will receive incentives for making Apple products in India.
- Foxconn, Wistron, and Pegatron all stand to benefit from incentives of 4-6% on incremental sales.
- The trio has committed $900 million in investments in the country over the next five years.
Apple's three main suppliers, Foxconn, Wistron, and Pegatron will receive incentives of between 4-6% of sales for making smartphones in India, the Indian government has confirmed.
In a press release Tuesday the government stated:
Union Minister for Electronics & IT, Communications, Law and Justice, Shri Ravi Shankar Prasad, said the scheme had been a huge success in garnering applications to make goods in the country. Several international mobile phone manufacturers will receive incentives of between 4-6% on incremental sales, including Samsung, Foxconn, Wistron, and Pegatron.
The latter trio has committed $900 million in investments in India over the next five years, as Apple continues to push its suppliers to help diversify its manufacturing base.
Apple continues to invest in India, recently signing its biggest-ever real estate deal in the country for an office lease in Bengaluru.
Apple also recently opened its online store in the country, selling products to customers in the nation directly for the first time. Earlier this year, it emerged that Apple was making the iPhone 11 in the country for local distribution, the first time a flagship iPhone has been made outside of China.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9
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