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Apr 16, 2024 09:55 AM IST
Through partnering with either Titan or Murugappa Group, Apple will get Indian suppliers for the critical camera module components in its smartphones.
Apple is in discussions with India's Murugappa Group and Titan to assemble and produce sub-components for camera modules used in iPhones in a deal that could mark a shift in Apple's operations from China to India, The Economic Times reported. Through partnering with either Titan or Murugappa Group, Apple will get Indian suppliers for the critical camera module components in its smartphones. The deal is likely to be finalised within the next five to six months, people in the know told the outlet.
An Apple logo is pictured in an Apple store in Paris, France. Apple is looking to diversify its supply chain beyond China. (Reuters) Read more: China's economy beats expectations, grows at 5.3% in first quarter: Top points
"Murugappa Group, in particular, with its acquisition of Moshine Electronics, has an advantage. In the future, with a potential fab, it could manufacture the image sensor," an unnamed source said as per the report.
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Titan or Murugappa Group? Which will be Apple's pick
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Taa Group company Titan that specialises in precision manufacturing for watches and jewellery could be the second choice in comparison to the diversified Murugappa Group which has presence across sectors spanning auto parts and abrasives. Murugappa Group acquired Noida-based camera module maker Moshine Electronics in 2022- which is being seen as an advantage by Apple- the report claimed.
Apple's India plans
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With focus on localising camera module production, Apple is aiming to build a more comprehensive supply chain in India and address a key challenge in its local operations as well, the report said.
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