Tim Cook has India on his mind.
The other day, the Apple CEO lauded filmmaker Vishal Bhardwaj’s 30-minute film Fursat, shot entirely on iPhone 14 Pro and released on YouTube, for its cinematography and choreography. “It explores what might happen if you could see into the future,” Cook tweeted on February 5.
Just a few days earlier at the December quarter results meeting with analysts, Cook shared that the iPhone maker had achieved an all-time high revenue from India. Cook said in the post-earnings call that Apple “grew very strong double digits in India, Y-o-Y in the last quarter. We feel very good about how we performed. I’m very bullish on India.”
Apple is selling more phones in India now than ever before. While making in India was initially part of Apple’s China (where more than 90% of the iPhones are made) de-risking strategy amid a strained Sino-US relations, the growing Indian market for iPhones comes as the icing on the cake. Also, in 2022, shipments of Apple’s latest device, iPhone 14, were delayed from China factories due to Covid-19 curbs.
Through its three Taiwanese contract manufacturers — Foxconn, Wistron, and Pegatron — Apple is ramping up production in India. Investment bank JP Morgan sees Apple sourcing one in four phones, or 25% of its global production, from India by 2025.
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