Market Chatter: Apple Now Produces 25% of iPhones in India

MT Newswires Live17:10

Apple (AAPL) raised its iPhone production in India by about 53% last year, to roughly 55 million units, now producing 25% of its smartphones in the country, Bloomberg reported Tuesday, citing unnamed sources familiar with the matter.

The company produces 220 million to 230 million iPhones a year and its production in India has continued to increase, according to Bloomberg. Production in China remains the bulk of Apples yearly output, the news outlet added.

Apple did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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