![]() ![]() What’s changed is the readiness of multinationals such as Apple to tolerate these comparative disadvantages. The queue of countries courting manufacturing giants is long, but while nations across South- and South-East Asia are falling over themselves to offer incentives, none can yet match China’s production ecosystem, which has been built over four decades of operations as the factory to the world. Foxconn, one of the principal device assemblers used by Apple, announced earlier this year that it had listed a new site in an industrial park in Bac Giang province in the north of the country. Some MacBook manufacturing also appears set to take place in Vietnam. The Nikkei newspaper reported last week that the company is in talks to manufacture MacBooks in Thailand, building on its current activities in that country, which include Apple Watch production. JP Morgan analysts believe production could reach 25 per cent by 2025.Īpple is also spreading its bets by investing in manufacturing in South-East Asia. ![]() Apple makes about 7 per cent of its phones in India – up from just 1 per cent two years ago. The tech giant is also relying on some national pride to help drive demand for its made-in-India iPhones. Apple has a relatively paltry market share, but is banking on increased demand as India’s middle class continues to grow. There are 1.2 billion mobile phones and 600 million smartphones in use across the country. India, which will overtake China this year as the world’s most populous country, is also an important growth market for Apple. The ongoing trade war between Beijing and Washington, which puts companies at risk of sanctions that could affect their manufacturing capacity, also makes India attractive. He cites rising labour costs in China, the incentives India is offering to set up or expand manufacturing, and India’s status as a democratic and stable society with “massive in-country resources”. “Companies are transferring out of China for multiple reasons,” said Dr Manoj Kumar Panigrahi, assistant professor at the School of International Affairs at India’s OP Jindal Global University. Meanwhile, Apple, like other tech companies rattled by the US-China rivalry and affected by border closures under China’s harsh zero-COVID strategy, is continuing to diversify out of the country. Given the fractious relations between the two countries, any reduction in the trade deficit by the Modi administration is a political win at home. India’s imports from China are worth more than four times its exports, resulting in a trade deficit of $US72.9 billion ($108 billion) in 2021-22. If those jobs and exports come at the expense of China, that’s icing on the cake, as far as New Delhi is concerned. The arrival of Apple’s glitzy retail outlets would probably not have been enough to secure an audience for the company’s CEO with Mr Modi.īut Apple’s sharp ramp-up in output since it began producing iPhones in India six years ago fits perfectly with the “Make in India” policy championed by the Modi administration to boost exports, and help generate the kinds of jobs sought by India’s growing numbers of young and educated workers. Mr Cook will open an Apple retail store in New Delhi after officiating at the launch of the company’s first outlet in the financial hub Mumbai on Tuesday.Īpple CEO Tim Cook waves to the dozens of people waiting outside the opening of Apple’s first flagship store in Mumbai on Tuesday. In our Hollywood Salary Diaries, we reveal how four entertainment industry workers are paid and how they budget.Singapore | Apple chief executive Tim Cook was expected to meet India’s Prime Minister Narendra Modi in New Delhi on Wednesday as the tech giant ups production and moves into retail in India, in recognition of both the country’s growing middle class and its appeal as a manufacturing hub.Leaked strategy deck reveals NBCUniversal's relaunch plans for Peacock streaming service and says it's 'passionate' but 'isn't a cult!'.It could mean the end of Silicon Valley's 'rest and vest.' Uber, Google, Stripe, Coinbase, and other tech firms are radically changing the way they pay employees in stock.The Supreme Court has 37 new millennial clerks that are set to be the most powerful lawyers, judges and politicians in the US - meet them here.Find out why luxury-pool builders are setting minimum prices as high as $500,000. Former Bernie Sanders 2020 staffers have landed in various political roles, advocate groups, and even a comic-book store.Some think the company has lost direction and become 'boring.' Dara Khosrowshahi's leadership has left Uber insiders divided.It could be the reason you might feel burned out - here's how we can fix it. Read more into allegations against the mega-ministry. Account icon An icon in the shape of a person's head and shoulders. ![]()
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