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Apple Analyst Predicts Foxconn's India Site To Ship iPhone 14 Almost Simultaneously With China For The 1st Time

Benzinga logo Benzinga 8/5/2022 Navdeep Yadav
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Eminent Apple Inc (NASDAQ: AAPL) analyst Ming-Chi Kuo predicts that India would ship the new iPhone 14 almost "simultaneously" with China.

What Happened: Kuo, in a tweet on Friday, said his latest survey shows iPhone assembler Foxconn's India unit will ship the 6.1-inch iPhone 14 almost simultaneously with China for the first time in the second half of this year.

He added that the India unit had been one quarter or more behind in the past.

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The developments came after the data from the market intelligence firm CyberMedia Research (CMR) earlier in April showed iPhone production in India grew by 50% year-on-year in the first quarter of 2022.

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Meanwhile, reports have also indicated that Apple is now looking forward to increasing its production outside China. The Wall Street Journal in May reported that the company is reportedly telling some of its manufacturers that due to persisting stringent COVID-19 norms across China, it now wants to boost production outside of the country.

Price Action: According to Benzinga Pro data, Apple closed Thursday’s session down 0.19% at $165.81. Foxconn or Hon Hai Precision Industry Co. Ltd's (OTC: HNHPF) OTC shares traded Thursday’s session down 0.18% at $7.11.

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