Tim Cook plans to open iPhone factory in Bengaluru from April 2017
Multinational technology company, Apple Inc will be starting iPhone production for the Indian market in Bengaluru from April next year.
Wistron, a Taiwanese OEM maker for Apple, is setting up a facility in Peenya to manufacture iPhone models, a report by the Times of India said on Friday.
Apple said it was "very serious" about beginning assembly operations in April 2017 and thereafter full manufacture in India by the end of next year, the report added.
Foxconn, Apple's largest Taiwan-based OEM, earlier committed to setting up a manufacturing plant in Maharashtra. The assumption was the plant would make only Apple products. But sources say Foxconn has tied up with other players like Xiaomi and OnePlus for local manufacture and not necessarily to only make Apple products there.
Earlier in May 2016, Tim Cook, CEO of Apple, on his trip to India announced a design and development accelerator in Bengaluru which will also open next year.
The company said the centre will be operated to grow the iOS developer community and also to guide Indian developers to leverage Apple's programming language Swift and build apps for Apple TV and Apple Watch.
Apple India clocked robust sales touching Rs 9,997 crore in the 2016 financial year, up 56% from Rs 6,472 crore, previously. The company's net profit grew 21% to Rs 294 crore during the same period.
The company had also published job openings on its portal for a few positions at its OEM's factory in Bengaluru like operations program manager and product quality manager.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
10:59 AM IST