Apple 'Hopeful' About Future iPhone Manufacturing in India

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On Wednesday, Apple AAPL executives met with government officials of India to discuss plans about manufacturing iPhones in the country.

Like many tech corporations-think Amazon AMZN and Netflix NFLX -Apple is eager to begin assembling its iPhone in India, which has become one of the world's fastest growing smartphone markets in recent years. Apple currently only has a tiny market share in the country, and is ready to start bolstering its stagnate global sales. The company even applied to open retail stores in India last year.

"We've been working hard to develop our operations in India," Apple said in a brief statement. "We appreciate the constructive and open dialogue we've had with government about further expanding our local operations."

The tech giant's plans to set up an iPhone production plant was initially reported on by Times of India . The newspaper reported that the factory would be built in partnership with Taiwan-based manufacturer Wistron.

According to CNNMoney , India has over 300 million smartphone users, or 18% more than last year. Apple, then, has much to gain if it can build a successful iPhone production plant in the country. However, Apple's products are not cheap, and most of India's 1.3 billion people have an average annual income of $1,500.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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