Apple's India manufacturing capability maturing: Moody's
Says increasing local output of iPhone 14 will also accelerate Apple's expansion strategy in India
New Delhi: The manufacturing of iPhone 14 in India within weeks of the global launch demonstrates the maturity of Apple's manufacturing capabilities in the country, according to Moody's Investors Service.
Increasing volumes of locally-manufactured iPhones will also accelerate Apple's expansion strategy in India, said Raj Joshi, senior vice-president (corporate finance group), Moody's.
The Indian smartphone market's large size and strong growth prospects as the country unveils its 5G network make it an attractive long-term market for Apple, according to a note by Moody's. "Apple's plan to manufacture iPhone 14 products in India is credit positive because it will diversify its manufacturing base that is highly concentrated in China," Joshi said.
Moody's in its commentary on Apple's plans to manufacture iPhone 14 products in India, further observed that Apple has produced iPhones in India since 2017.