Apple Supplier Salcomp To Expand Workforce In India, Reduce Dependence On China

Apple Inc AAPL supplier Salcomp looked to more than double its workforce in India to nearly 25,000 over the next three years.
Salcomp Manufacturing India MD Sasikumar Gendham hailed India as one of the best supply chain alternatives to China as the China Plus One strategy reached its peak, Reuters reports.
The iPhone maker major charger supplier Salcomp is also setting up a housing complex with entertainment and education for about 15,000 people, Gendham told Reuters.
Salcomp, which currently employs about 12,000 people in Chennai, had agreed to take over a facility formerly owned by telecom equipment maker Nokia Corp NOK in the southern Indian city of Chennai and started operations in 2020.
Another Apple supplier Hon Hai Precision Industry Co Ltd HNHPF, operating as Foxconn, looked to quadruple the workforce at its iPhone factory in India over two years.
JP Morgan analysts estimated last year that Apple may make one of four iPhones in India by 2025, and 25% of all Apple products, including Mac, iPad, Apple Watch, and AirPods, will be manufactured outside China by 2025 from 5% currently.
More than a dozen of Apple's Chinese suppliers won initial clearance from India to expand as the iPhone maker strived to diversify its assembly network beyond China.
About 14 suppliers bagged permits from India after Apple publicized the need for their growing presence in India.
Price Action: AAPL shares closed higher by 0.09% at $151.01 on Friday.