In its last financial year, the company achieved more than $7bn in production in India. Apple has not yet responded to confirm these speculations.
India is Apple’s base for the manufacture of iPhones. Rumours have it that the company also plans to start making Airpods in this country.
In an earlier Bloomberg interview this month, India’s Junior Minister for Technology, Rajeev Chandrasekhar, said the country set a $300bn expansion target for 2026 for its electronics industry. The goal is to counter the risk of China’s market monopolisation.
This month saw the release of the highly anticipated iPhone 15. The new design abandoned Apple’s signature lightning-fast port in favour of the more universally friendly USB-C port to charge this mobile phone. The European Union (EU) mandated that all phones feature these ports by 2024, so Apple complied.
Don’t miss out the latest news, subscribe to LeapRate’s newsletter
The company closed the week’s trading on Friday at 4.79, a 0.49% gain after a drop shortly after the iPhone 15 release. Some expected market fireworks in the wake of this release, but things remained rather stale and flat.
Despite this, Apple remains a strong competitor in the tech investment arena.
