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Apple to double iPhone exports from India.
According to Bloomberg, India’s effort to become another factory to the world is succeeding with help from the Apple / Foxconn juggernaut. By March 2023, annual shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion, almost double the $1.3 billion from the year prior.
Still, only about 3 million iPhones were made in the country last year, compared to 230 million in China. Analysts say it would take about eight years to move just 10 percent of Apple’s production capacity out of China.
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