Tech giant Apple has increased its production of iPhones in India to nearly 7%, according to Bloomberg.
Last fiscal year, the company reportedly assembled more than $7 billion worth of iPhones in India, a significant jump from the estimated 1% of iPhones produced in the country in 2021.
This move is part of Apple's efforts to diversify its supply chain and reduce its dependence on China. The company has expanded its partnerships with manufacturers like Foxconn Technology Group and Pegatron Corp. to increase production in India.
Apple's increased production in India is part of its broader strategy to diversify its supply chain and reduce dependence on China, where the company has faced challenges such as rising labour costs and geopolitical tensions.