Apple is reportedly planning a substantial expansion of its production operations in India, to increase its production value to approximately USD 40 billion over the next four to five years, as per undisclosed government sources cited by news agency PTI.
These sources indicate that in the previous fiscal year, Apple achieved a production milestone by surpassing the USD 7-billion mark.
Currently, Apple is engaged in the production of iPhones within India and has intentions to commence the manufacturing of AirPods in the coming year. However, it has been revealed that Apple does not have immediate plans to extend its manufacturing activities to include iPads or laptops within India.
In the financial year ending on 25 September 2022, Apple reported global iPhone sales amounting to USD 191 billion, along with products worth USD 38.36 billion in the wearable, home, and accessories segment.
During the initial nine months of the current calendar year, Apple experienced a slight decrease in iPhone sales, totaling USD 156.77 billion, and a minor decline in the wearable, home, and accessories segment, with revenues reaching USD 30.52 billion.
