Apple To Expand Indian Footprint As Tata Sets Up Country's 4th iPhone Assembly Plant: Report

Author: Ananthu C U | August 19, 2024 04:37am

This story was originally published on the Benzinga India portal.

Apple Inc. (NASDAQ:AAPL) is preparing to launch its fourth iPhone assembly unit in the country. The new plant, set up by Tata Electronics, is located in Hosur, Tamil Nadu, and is expected to begin operations in November.

What Happened: The iPhone assemble plant will be Tata's second in the country, Business Standard reported. The iPhone maker's first plant in the country was established following Tata's acquisition of Taiwan-based Wistron’s unit in Karnataka. 

The Hosur plant, which spans 250 acres, will manufacture iPhones using components from a unit that Tata set up three years ago.

Tata Electronics is reportedly investing ₹6,000 crore in the new plant, matching the investment made in the components unit. 

The facility is expected to employ over 50,000 workers, who are predominantly women. The assembly plant alone is set to add 35,000-40,000 jobs, making it the largest of its kind in India.

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Apple's iPhone contract manufacturers in India include Tata, Pegatron, and Foxconn. Tata plays a pivotal role in Apple's strategy for India, which is projected to account for 20%-25% of total iPhone shipments this year, a significant increase from 12%-14% last year.

Apple began production in India just four years ago and has since expanded rapidly. The fourth factory will help the company achieve its goal of shifting 10% of global iPhone manufacturing capacity to India by 2025-26, taking advantage of the government’s production-linked incentive scheme.

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Posted In: AAPL