Apple contract manufacturer releases first installement of Make in India investments.
Apple iPhone contract manufacturer, Pegatron, has approved the first installement of Rs 1,100 crore ($150 million) as part of its Make in India investments and set up manufacturing facilities in the country. Pegatron is Apple's second-largest contract manufacturer.
Pegatron, as per report, is expected to begin production by mid-2021 or early 2022. Apple supplier is likely to make further investments in the country over the next two years, said Liao Syh-Jang, Pegatron CEO and MD.
Pegatron is among the three Apple contract manufactures including Wistron ,Foxconn. Both these companies already have manufacturing plants in India.
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Talking about sales, then in the third quarter Apple sold 40.5 million units, a decline of 0.6 per cent as compared to 2019, garnering 11.1 per cent global market share.
According to Annette Zimmermann, research vice president at Gartner, the slight decrease was mainly due to Apple's delayed shipment start of its new 2020 iPhone generation. OPPO was fifth with 8.2 per cent market share.
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