Name: Apple Supplier Shifting Production to India
Uploaded: 2023-03-08T07:00:25.000Z
Description: Apple is shifting more of its production out of China as the tech giant works to diversify its supply chain and it might happen faster than anticipated.

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Apple is shifting more of its production out of China as the tech giant works to diversify its supply chain and it might happen faster than anticipated.

Apple’s manufacturing partner Foxconn plans to build a $700 million plant in India, according to Bloomberg News. The plant will be one of Foxconn’s biggest yet in the country.

State officials add the factory would generate around 100-thousand jobs in the next 10 years.

Bloomberg analysts explain that for Foxconn, the plan may "herald an accelerated relocation" from China.

Beijing's strict virus restrictions disrupted the making of new iPhones and other devices there.

Apple also hopes to avoid a hit to its business amid growing tensions between Washington and Beijing.

Besides Apple, other tech companies are joining the shift.

AirPods maker GoerTek announced a $280 million investment in a new plant in Vietnam. The company also revealed its considering other expansion in India.

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