Xiaomi: Confirming the diversification strategy, Bharat FIH said it was leveraging on its success in smartphones to make strides in newer segments such as EVs. The company declined to disclose the Sriperumbudur plant s operating capacity, which it said was a factor of customer demand, planning and prevalent market conditions. However, the company was quick to add that it has "exceptional capability" to expand capacity as per customer needs.
Bharat FIH diversifies beyond Xiaomi orders at Chennai campus to explore EVs, telecom equipment, and TVs. Leveraging Make in India initiative with PLI benefits, the company aims to support GOI s localization plans and expand capacity based on customer demand.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company s vendors and the government.
This would account for around 12 per cent of Apple s global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
This story was first published on the Benzinga India portal. Apple Inc. (NASDAQ: AAPL) is ready to boost its iPhone production in India, with an expected reach of $12 billion in Freight On Board (FOB) value by 2023-24, according to a report by local publication Business Standard. This initiative not only overshadows the initial plan of shifting nearly 9% of its total production to India by fiscal year 2024 but also denotes a significant rise in Apple's involvement in the Production-Linked Incent