Apple may have to turn to China after fire at Indian iPhone component plant: report
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Contributor since / Followers
Contributor since / Followers
14 hours ago
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- Apple (NASDAQ:AAPL), which has attempted to reduce its reliance on China in recent years, may have to turn back to the country after this weekend’s fire at an iPhone component plant, Reuters reported, citing sources.
- Roughly 1.5M units of the iPhone 14 and iPhone 15 could be sold in India during the festive season, which runs from late October to early November, Counterpoint Research told Reuters. And with the fires, Apple could wind up missing roughly 15% of that demand, the research firm told the news outlet.
- A major fire disrupted production at an important Tata Electronics plant in southern India, which makes iPhone components. At least 10 people received medical treatment and two were reportedly hospitalized.
- Apple shares fell more than 3% on Tuesday amid a research note from Barclays over possible cuts to iPhone 16 builds and geopolitical concerns.