Apple Begins Manufacturing iPhone In India, Marking Setback For China

Apple Inc AAPL has started manufacturing the iPhone 13 in India, Reuters reports.
Apple produced the iPhone at a local plant of Apple's Taiwanese contract manufacturer Hon Hai Precision Industry Co Ltd HNHAF, operating as Foxconn in Sriperumbudur in Southern Tamil Nadu.
Also Read: China's Smartphone Shipment Plunges By 32% In February, Here's Why Apple Could Shine Amid China's Covid Resurgence
Apple shifted some areas of iPhone production from China to other markets, including India, the world's second-biggest smartphone market, to reduce reliance on its Chinese supply chain.
Apple also looked to assemble iPad tablets in India.
Apple launched manufacturing operations in India in 2017 with the iPhone SE with the iPhone 13 marking its fourth model.
Price Action: AAPL shares traded lower by 2.55% at $165.75 on the last check Monday.