Apple (AAPL.US) could shift a quarter of its iPhone production to India by 2025, analysts at JPMorgan said on Wednesday. JPMorgan expects the tech giant to shift about 5 percent of its iPhone 14 production to India starting in late 2022. In addition, the bank estimates that by 2025, about 25 percent of all Apple products, including Macs, iPads, Apple Watches and AirPods, will be made in markets outside China, compared to the current 5 percent.
Analysts led by Gokul Hariharan said, “In the medium to long term, we also expect Apple to qualify as a local manufacturing supplier in India.”
Earlier this month, reports indicated that Indian conglomerate Tata Group and Wistron were in talks to set up a joint venture to assemble iPhones in India.
Apple has bet heavily on India since it began assembling iPhones in the country through Wistron and Foxconn in 2017.