New Delhi. 14 Apple suppliers from China have been given preliminary approval by the government. Let us tell you that the domestic manufacturing of smartphones is being given a boost in India. This information has been revealed by quoting Bloomberg.
In one of its reports, Bloomberg quoted sources as saying that Luxshare Precision and a unit of lensmaker Sunny Optical Technology are included in the list of companies that have been approved.
This approval is being seen as a step towards full approval in India, but these suppliers will have to find a joint venture partner in India.
India is fast becoming a major iPhone manufacturing hub at a time when corporations are trying to expand their presence in other geographies which are being called China+1.
Here’s the forecast
The forecast: According to a forecast by Luke Lin, an analyst with the research unit of Taiwan’s DigiTimes newspaper in the South China Morning Post, India could produce one out of two iPhones in the world by 2027, while the current percentage is less than 5.
Earlier, JP Morgan predicted that India would assemble 25 percent of the total Apple iPhones worldwide by 2025. However, the new forecast is even more aggressive than this.
China’s zero covid policy regarding Corona affected the production of Apple products. Its effect was especially on the iPhone. This happened when Foxconn’s largest assembly plant in Zhengzhou was closed last November due to the spread of Corona.