Apple’s plan of moving production to India is likely to have a significant impact on China manufacturers, as reported by the South China Morning Post.
The Cupertino-based company’s plans of meeting half of the global iPhone demand may take years. However, Chinese manufacturers are already experiencing the effect. The firms involved in Apple devices have had their stock plunge, as well as a forecasted earnings drop. Camera component maker Ofilm has had profits and sales plunge, which is likely due to Apple ceasing orders over human rights violations.
On the other hand, the Chinese media outlet said that the opposite is happening in India, with shipments expected to double between April and December this year compared to the same time period in 2021. The figure is still less than 5 percent of total iPhone shipment, but the South China Morning Post said that analysts predict it could rise to 50 percent by 2027.
