Apple announced its fiscal 2024 third-quarter results, ending June 29, reporting a quarterly revenue of $85.8 billion, a 5% year-over-year increase. CEO Tim Cook highlighted that the company achieved new revenue records in over two dozen countries, including India, Canada, Mexico, France, Germany, the UK, Indonesia, the Philippines, and Thailand....
Foxconn to Invest $1.5 Billion in India
Apple supplier, Foxconn Technology, will invest more than $1.5 billion in an Indian construction project to fulfill its "operational needs," the company announced in Taiwanese security filings. According to one of the securities filings and Indian corporate records,the funds were made through a Foxconn subsidiary, Hon Hai Technology India Mega...
iPhone Exports from India Touch $1Billion in 2022
According to the Economic Times, Apple surpassed Samsung and became the first company to cross the milestone of $1billion in total exports of smartphones. Apple’s rising export valuation in India is in line with India’s manufacturing facilities that have facilitated growing electronics exports that grew by over 51 percent year-on-year...
Apple to Shift Production of More Products to India
Apple plans to shift more iPhone production away from China to India. The company is now reportedly looking to also move the production of some iPads to India to keep its supply chain healthy amid Covid-related disruptions. Citing sources, CNBC reported that Apple has "talked to Indian officials about locating...
Foxconn Expands India iPhone Production
To increase production capabilities in India, Taiwan's Foxconn will expand one of its factories to enable iPhone manufacturing. The company will launch another phone manufacturing unit within its Foxconn Hon Hai Tech India facility near Chennai. Foxconn is expected to finish the new expansion and begin hiring within the next...
Apple India Sales Almost Doubled in Q4
Apple India saw sales grow by 93% during the October-December quarter against the same period a year ago, as restrictions on international flights prevented frequent fliers from buying the devices abroad at lower prices. This was the highest growth in sales recorded by Apple in India but not cause for...