Apple Supplier Eyes Second India Factory To Assemble Latest iPhones
Apple Inc's (NASDAQ: AAPL) Taiwanese supplier Pegatron Corp (OTC: PGTRF) weighs a second factory in India.
Pegatron eyes a second facility near the southern city of Chennai in Tamil Nadu state, just six months after opening the first with an investment of $150 million, Reuters reports citing familiar sources.
Reportedly, the new factory will assemble the latest iPhones.
Pegatron accounts for 10% of Apple's iPhone production in India annually, per Counterpoint.
Apple and its key suppliers have been migrating production away from China to avoid repercussions from Sino-U.S. frictions. Apple views India as the next growth frontier.
India is the second biggest smartphone market, where Apple also plans to assemble iPad tablets and AirPods.
The discussions for a second Pegatron facility on lease are ongoing and likely to find a place inside Mahindra World City near Chennai, just around where the company inaugurated the first plant in September 2022.
The new factory will be smaller than the first one.
Price Action: AAPL shares traded lower by 0.11% at $158.75 premarket on the last check Friday.
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