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Apple iPhone suppliers bullish on India, new factories planned
- Tuesday | 21st July, 2020
India is fast emerging as the main alternative manufacturing destination for Apple iPhone suppliers amid the heightened US-China tensions. The development follows Foxconn’s planned $1 billion investment in India to expand its factory in Tamil Nadu, which already makes iPhone XR. According to market trackers, Apple currently controls 2-3% smartphone market share in India, which is the world’s second-biggest smartphone market. It used to make the iPhone SE smartphone, which Apple discontinued recently. India is targeting to become a $400 billion electronics manufacturing market by 2025 driven by the three schemes production-linked incentive (PLI) scheme, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme.
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