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Apple added Molex, Onsemi, and Shenzhen Irwin Precision Technology as suppliers in India, taking the number of suppliers to 14 companies by 2021. The Apple Suppliers List for Fiscal Year 2022 lists the company’s top 200 suppliers, representing 98% of its worldwide spending on materials, manufacturing and assembly of its products. While Molex and Onsemi have plants in Karnataka and Tamil Nadu, Shenzhen Irwin Precision Technology has set up shop in Uttar Pradesh. Which will supply parts in UP.
In addition, Apple continues to work with its existing suppliers previously added. This includes its three contract manufacturers Hon Hai (Foxconn), Pegatron and Wistron as well as Foxlink, Jabil, Flex and other component suppliers.
Let us tell you that a large part of the suppliers remained outside China, which had 151 facilities serving the Apple supply chain. Apple has added five suppliers, removing 8 from the list of suppliers in the Far Eastern country. Globally, the Cupertino-based company has added 18 new suppliers while removing 19.
Tata Group will play a role in making iPhone
Not part of the India list is Tata Electronics, which started supplying machines for iPhones and assembled small batches of the iPhone SE. Tata Group is set to play a major role in iPhone manufacturing in the coming years as it acquires Wistron’s manufacturing unit in Karnataka. Trial production of iPhone 15 is already underway.
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increase in revenue
Apple CEO Tim Cook said during his recent earnings call that India is emerging as a key market for its products with the country’s growing middle class. Apple posted record quarterly revenue in India with strong double digit growth. Shifting its focus to India, Apple opened two flagship retail stores in Mumbai and New Delhi in April.
iPhone exports cross $5 billion
The company sees India as a major production base. India already accounts for 5% of total iPhone production, expected to grow to 20-25% in a few years. In 2022-23, iPhone exports increased almost four times year-on-year to cross $ 5 billion.