Apple’s iPhone production value in India reaches $14 billion

Apple will assemble $14 billion worth of iPhones in India in 2024, Bloomberg News reported on Wednesday.

The report, citing people familiar with the matter, said Apple currently makes 14% of its major devices in India, or about one in seven devices.

Foxconn assembled about 67% of iPhones made in India, while Pegatron produced about 17%, Bloomberg reported. The rest was produced at Wistron’s plant in the southern Indian state of Karnataka, which was acquired by the Tata Group last year.

Apple did not respond to Reuters’ request for comment.

Amid geopolitical tensions between Beijing and the United States, Apple is increasingly looking to diversify its supply chain beyond China, even though China remains the world’s largest iPhone manufacturing hub.

Reuters reported on Monday that Pegatron is in talks to transfer control of its only iPhone manufacturing facility near Chennai in southern Tamil Nadu state to the Tata Group.

The Indian consumer goods conglomerate is building another factory in Hosur, Tamil Nadu, with Pegatron likely to emerge as a joint venture partner.