With more than 65% market share with a price of more than $540 million according to Digital Trends, Apple has become the most prominent manufacturing device company. With Foxconn, Wistron and Pegatron investing in the company for India, another feather is added to the cap for success.
Post the Covid-19 Pandemic, India is set to become the second-largest phone market in the world, doubling its previous year's statistics, sourced by The Scroll. Business of Apps, the company's revenue boosted to $394.3 billion. The iPhone's revenue was 205.4 billion and 232.2 million units in 2022.
Pegatron launched in 2007, a Taiwanese manufacturer of electronics that focuses on creating computer, communication, and consumer products for well-known brands. And these three companies are the Apple contract manufacturers.
Foxconn Technology Group or Hon Hai Technology Group, was launched in Taiwan in 1974 and is the largest manufacturer of electronics in the world and the highest technical solution provider. With investments largely in Asia, China, Eastern Europe, Latin America, and the United States.
Wistron, a Taiwan-based electronics manufacturer offers cutting-edge product design, production, services, and systems for information and communication.
With Covid-19 that altered the world, these three manufacturers hampered their activity, especially their production line. According to BBC News, if new hires continue on the job for at least 90 days, they can receive bonuses of up to 3,000 yuan at the Zhengzhou plant in China. However, during the pandemic surge in 2022, many workers protested. As per The Social Talk: "Thousands of employees complained about inadequate help for coworkers who were ill and scarcity of anti-virus protection." Tech story stated that due to geopolitical turmoil and rigorous COVID-related limitations have complicated Apple's bigger plan to diversify its manufacturing operations outside of China.
In 2021, the ‘Made in India’ concept was only referred to the assembly of the phones by Wistron- a manufacturing company in Bengaluru for the iPhone 6 and iPhone 7 a year later stated by Gadgets Now. Regarding India and Apple, the first official store was inaugurated in Mumbai on April 18, 2023, followed by its second store in Delhi launched on April 20, 2023, according to Forbes. Pegatron as per Business Line had chosen Chennai, Tamil Nadu for setting up its facility in September 2022 with an investment of Rs 1,100 crores and employment generation for 14,000 individuals
Foxconn is strategising to open iPhone plants in India that aim at serving the population of India whose market share is at 3.54% as of 2022. Moreover, correspondingly plans to create job opportunities that were majorly affected during the pandemic time. The southern states of India especially Karnataka and Telangana are strived to become the plant areas. According to The Social Talk and Reuters, the investment in Karnataka is set at $700 million aiming to create more than 100,000 jobs in its Silicon Valley, site Bengaluru. With the Indian Express, K. T. Rama Rao stated it will create 25,000 jobs in the first phase in Kongara Kalan, near Hyderabad.
India is set to prosper in its market for its population and economic growth which could pave the way to a better future.
Edited by Whitney Edna Ibe
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