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Apple’s radical Indian iPhone production expansion will take years to reach 50% of global demand, but parts suppliers in China are already seeing the impact.
According to the South China Morning Mailare Apple’s moves already affecting the stock value of Chinese companies involved in all of Apple’s devices. For example, it attributes the loss of AirPods orders from component supplier Goertek to the move, and hence the company’s 60% profit predicted decline.
South China Morning Mail also says camera parts maker Ofilm has seen sales and profits decline. However, that was because Apple stopped all orders after Ofilm was placed on the US sanctions list human rights violations.
In contrast, the publication reports that iPhone shipments in India doubled between April 2022 and December 2022, compared to the same months in 2021.
That’s still less than 5% of the total, but the South China Morning Mail quotes a Taiwan-based analyst who predicts it could rise to 50% of all iPhones by 2027.
Previously JP Morgan analysts have predicted By 2025, 25% of all iPhones will be made in India.