Foxconn and Wistron Corp are the key manufacturing partners for the world’s largest electronic brands. Apple works with these partners to manufacture iPhones in the domestic market. Foxconn, also known as Hon Hai Precision Industries Co., has suspended operations of its India plans until April 14. Wistron representative has also confirmed adhering to the government order.
India is an important market for Apple. The company holds 20% of the market share. India is important for long-term growth. Apple has an office with thousands of employees in Hyderabad.
For global tech firms, India is the fastest-growing market for devices. We have already seen plummeting shipment numbers in smartphone sales in February. It will be a while before consumers spend on non-essential items. The global economy is experiencing a hard reboot.
Modi government’s 21-day lockdown has affected the operations of global electronic giants. While Apple is closing its doors for production, there is no official confirmation on which products are affected.