Apple, one of the leading names in the technology market, has been planning to move iPhone and AirPods production out of the Asian country for a long time due to the Covid-19 restrictions in China and the increasing China-US tension. Now it turns out that Apple and Foxconn have signed a new agreement in this direction.$200 million investment for AirPods production
According to sources close to the industry, Apple and Foxconn are preparing to establish a $200 million factory in Telangana, in the south of India, for the production of AirPods. For those who don’t know, Foxconn is one of Apple’s largest manufacturing partners, accounting for about 70 percent of iPhone production. Let us remind you that AirPod production is provided by various suppliers.
The new deal marks the further strengthening of the partnership between the Cuppertino giant and Foxconn. Also, sources reported that Apple plans to invest over $200 million in the new AirPods facility. Accordingly, the total value of the investment has not yet been disclosed. However, considering that even the factory costs 200 million dollars, we can say that Apple has made a big decision.
Apple’s India plans are big
It is reported that the first construction work for the new factory will begin at the end of this year. Mass production is expected at the end of 2024. It should also be noted that after the new news, Foxconn unit shares increased by approximately 9 percent and Foxconn shares increased by 0.5 percent.
In addition, the production of AirPods to be moved to India may also be a basis for iPhones. While Apple currently only has a 5 percent market share in India’s smartphone market, CEO Tim Cook has previously acknowledged India as a potential area for future growth.
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