Apple (NASDAQ:AAPL) said Monday it is assembling its flagship iPhone 14 in India as the U.S. technology giant looks to shift some production away from China.
“The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We’re excited to be manufacturing iPhone 14 in India,” the company said in a statement.
Apple’s main iPhone assembler, Foxconn, is manufacturing the devices at its Sriperumbudur factory on the outskirts of Chennai.
The Cupertino, California, giant has been manufacturing iPhones in India since 2017 but these were usually older models. This time with the iPhone 14, Apple is producing its latest model in India for the first time, close to the device’s launch. Apple introduced the iPhone 14 earlier this month.
Apple will sell India-produced phones locally but also export them to other markets globally. Customers in India will begin receiving the locally manufactured devices in the next few days.
JPMorgan analysts said in a note this month that Apple will move 5% of its global production for the iPhone 14 to India by late 2022. Apple could also make 25% of all iPhones by 2025 in India, JPMorgan said.
Apple’s focus on manufacturing in India highlights the tech giant’s desire to diversify production away from China and boost customers in India, which is currently a small market for the company.
India has looked to boost local manufacturing of electronics through incentives.
AAPL shares ditched 18 cents to $150.25.
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