Iphone: iPhone exports from India doubled to more than $ 2.5 billion, companies moving out of China.

iPhones worth more than $ 2.5 billion were exported from India in the first nine months (April-December) of 2022-23. This figure is almost double the iPhone exported in the same period of 2021-22.

People related to the matter said that Foxconn Technology Group and Wistron Corp have sent Apple equipment abroad worth more than one billion dollars in the first nine months of 2022-23. Pegatron Corp., another company that produces for Apple, is expected to export equipment worth about $500 million by January.

Companies exiting china

Apple’s rapidly growing export numbers suggest that the company is expanding operations outside China. Chaos at Foxconn’s main factory in Zhengzhou exposed weaknesses in the company’s supply chain and forced it to cut production estimates. On the other hand, the Government of India is giving incentives with various reforms to attract foreign companies. A huge workforce and a thriving local market make India a prime candidate for electronics manufacturing.