Apple may increase iPad production in India in move away from China: report
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Apple (NASDAQ:AAPL) is discussing moving some production of its popular iPad tablet to India in an effort to continue diversifying away from China, CNBC reported.
The news outlet, citing two sources close to the Indian government, noted that Apple (AAPL) has held ongoing discussions with Indian officials, but no concrete plans have been made.
In its most recent quarter, Apple (AAPL) said it generated $7.17B in revenue from the iPad, down from $8.25B in the year-ago period.
In September, Apple (AAPL) confirmed that it was assembling some of its iPhone 14 smartphone line in the country.
In August, it was reported that Apple (AAPL) would look to India for iPhone 14 production due to Prime Minister Narendra Modiâs push for local manufacturing and to narrow the production gap between the two countries.
Earlier this year, investment firm J.P. Morgan suggested Apple could shift a quarter of its iPhone production to India by 2025 and expected 5% of its iPhone production this year to move to the country.
Apple (AAPL) shares fell fractionally to $146.65 in mid-day trading on Monday.
In recent months, Apple (AAPL) has increased its action towards diversifying its supply chain out of China, looking to other countries such as India and Vietnam, as well as the U.S.