Apple has expanded its supply chain in India to nearly 45 companies, reports The Economic Times.
This includes local component makers and those who make up the subassembly ecosystem of the iPhone maker, the article says, quoting unnamed “officials familiar with the matter.” These component suppliers have so far created about 350,000 jobs, including 120,000 direct jobs, they said.
What’s more, Apple’s annual sales in India hit a record of nearly US$9 billion in the last fiscal year, signaling growing consumer demand for its flagship devices, reports Bloomberg.
Revenue rose about 13% in the 12 months through March from $8 billion a year earlier, with Apple’s marquee iPhones accounting for a majority of the sales. Apple’s marquee iPhones accounted for a majority of the sales, and demand for MacBooks also surged, Bloomberg reports.
Apple is investing in India, which it expects to become a key market in coming years, and is expanding its retail footprint and iPhone production in the country.
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