Apple iPhone production in India tripled to $7 Bn in FY23
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Highlighting Apple’s decisive manufacturing shift towards India, the production of iPhones by the tech giant’s contract manufacturers reportedly tripled to $7 Bn in the financial year 2022-23 (FY23). The Cupertino-based company now produces almost 7% of its iPhones in India as against a mere 1% in 2021, Bloomberg reported. Of the iPhones produced in India last fiscal year, $5 Bn worth of smartphones were exported, the report said citing sources.