Hey Apple fans! Here’s something to celebrate. After Taiwanese Industrial major Wistron, Salcomp is also going to invest ₹2,000 crores in the country for manufacturing Apple components.
Salcomp is a Finnish giant that supplies components to Apple, US. The company has entered into an agreement with the former industry giant Nokia to take over the latter’s facility in Chennai to start manufacturing different Apple components from March 2020. Salcomp majorly supplies chargers to Apple US, but it’s going to diversify its portfolio in India, where it will manufacture and supply a range of other components as well. The Nokia-owned facility that has been lying closed for several years will now be put to good use.
Apple already assembles the iPhone XR in India at its Foxconn unit and the iPhone 7 through Wistron’s local unit in Bengaluru. Being the world’s second-largest smartphone market, Apple is likely to widen its customer base by expanding its manufacturing operations. Allegedly, Apple’s India-manufactured iPhones will be of export-quality which will also push forward the concept of Make In India.
The trade war between Beijing and Washington has disrupted the established supply-chains and global corporations are looking for alternate manufacturing hubs. In such a situation, India is going to benefit greatly as we can provide great build-quality at relatively cheap manufacturing costs.
The icing on the cake for Apple enthusiasts is that they may see a gradual decrease in the prices, but there are other benefits as well. Customers will also benefit from affordable and quick customer support from locally manufactured products.
The ₹2,000 crore investment may seem small to many but this will lay the foundation for making India a manufacturing hub that can make and export world-class products. The Ministry of Electronics and Information Technology is also quite positive that the agreement will initially create approximately 10,000 jobs in the region.