Apple
has hastened plans to move part of its production out of China, home to the world’s largest iPhone factory, according to a The Wall Street Journal report citing anonymous sources.
The world’s most valuable company is telling suppliers to plan more actively for assembling
Apple
(ticker: AAPL) products elsewhere in Asia, especially India and Vietnam, in an effort to lower its dependence on Taiwanese assemblers led by Foxconn (2354: Taiwan), the Journal reported.
Foxconn
produces 70% of global iPhone shipments and is one of the world’s largest electronics contractors. Apple didn’t reply to Barron’s requests for comment.
Source: https://www.barrons.com/articles/apple-iphones-china-covid-foxconn-51670087677?siteid=yhoof2&yptr=yahoo