Apple to boost India production over five times to $40B report

News Snapshot:

Apple Inc (NASDAQ:AAPL) plans to significantly increase production in India by more than five-fold to around $40 billion over the next 4-5 years, Indian newswire PTI reported, citing government sources. According to the report, the iPhone maker crossed the $7 billion production mark in the last financial year. Apple (AAPL) makes some of its iPhones in India and plans to start manufacturing AirPods in the country next year. Apple is on a multiyear project to branch out its production away from China, de-risking the supply chain for its vital products as tensions between the U.S. and China make trade less...