Apple To Leave China

Apple ($AAPL@US) has pushed plans to move some of its production out of China to lessen its dependence on Foxconn Technology Group ($FXCOF@Taiwan). It is telling suppliers to actively plan to move manufacturing to other Asian countries such as India and Vietnam. Foxconn’s Zhengzhou factory, known as iPhone City, has been embroiled in protests over China’s Zero Covid policies. Apple’s longer-term goal is to ship 40 to 45 percent of iPhones from India, and Vietnam is expected to manufacture other Apple products such as AirPods, smartwatches, and laptops.