American technology company Apple plans to move the production of all iPhones for the US market to India by the end of next year.
Apple has previously sought to diversify its supply chains, but now it intends to accelerate that process, the Financial Times writes, citing anonymous sources.
Apple wants to accelerate its exit from China to mitigate risks arising from tariffs and geopolitical tensions, Capital.ba reports.
In practice, this means that Apple would have to roughly double its annual iPhone production in India to more than 80 million devices.
The company sells more than 60 million iPhones annually in the United States, which accounts for approximately 28 percent of its global sales.
The New York agency reported earlier this month that Apple produced $22 billion worth of iPhones in the fiscal year through March, an increase of nearly 60 percent from the previous fiscal year.
Apple currently makes a fifth of all its iPhones in India, but China remains its largest manufacturing base.
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