Apple banked on China-based factories, which now churn out more than 90% of its products, and wooed Chinese consumers, who in some years contributed up to a quarter of its revenue. Apple’s extraordinarily successful past two decades revenue up 70-fold, share price up 600-fold, a market value of $2.4trn is partly the result of a big bet on China. The mushrooming of factories in southern India marks a new chapter for the world’s biggest technology company. Covid-19, costs and geopolitics are driving the iPhone-maker to manufacture and sell its gadgets elsewhere. Do you think that Apple will completely get out of China ?
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