Apple Inc AAPL has announced that it will begin production of its newest iPhone series in India.
What Happened: The new iPhone 14 lineup introduces new technologies and important safety capabilities. Apple said in response to Benzinga's queries that they are excited to be manufacturing iPhone 14 in India.
According to Press Trust of India, Apple will sell made-in India iPhone 14 soon. The phones manufactured in India will be used for both the local market and the export market.
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Why It's Important: This is one of the biggest bets from the Cupertino-based tech giant on the world's second biggest smartphone market after China.
Apple unveiled its latest iPhone series earlier this month, with better features, including an improved camera, powerful sensors, and satellite messaging feature.
The news of Apple beginning production of its newest iPhone series in India comes days after Tech giant Foxconn HNHPF joined India's largest oil-to- metals giant Vedanta to manufacture semiconductors in the country. The two companies signed a Memorandum of Understanding to create a joint venture for manufacturing chips in India.
The next iPhone 15 will be manufactured simultaneously in India and China, according to eminent Apple analyst Ming-Chi Kuo. He had previously predicted that India would ship the new iPhone 14 almost simultaneously with China, but later revised it to say the country's mass production schedule still lacks six weeks behind China.
India And China To Produce iPhone 15 At Same Time - Apple Analysts Updates Estimate