Apple may shift a quarter of iPhone production to India by 2025, J.P.Morgan estimates
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Apple (NASDAQ:AAPL) may shift a quarter of iPhones production to India by 2025, said J.P.Morgan analysts on Wednesday.
News outlet Reuters reported that the brokerage expects the tech giant to move 5% of iPhone 14 production from late 2022 to India, as it shifts some production away from China amid strict COVID-19 lockdowns and mounting geopolitical tensions in the country.
J.P.Morgan also estimates ~25% of all Apple (AAPL) products, including Mac, iPad, Apple Watch and AirPods, to be produced outside China by 2025 from 5% currently.
Analysts led by Gokul Hariharan said, "Taiwanese vendors such as Hon Hai and Pegatron play a key role in the relocation to India. In the medium to long term, we also expect Apple to qualify local India manufacturing suppliers."
Earlier this month, a Bloomberg report indicated that Indian conglomerate Tata Group and Wistron were in talks to set up a joint venture to assemble iPhones in the country.
Apple (AAPL) has placed big bet on India since it began iPhone assembly in the country in 2017 through Wistron and later with Foxconn.

AAPL shares are marginally down premarket