After a fire in an iPhone components factory in India over the past weekend resulted in an indefinite suspension of production, Apple (AAPL.US) had to rely on china again.
According to the 36kr app, it was reported that after a fire in an iPhone components factory in India over the past weekend led to an indefinite suspension of production, Apple (AAPL.US) had to rely on china again.
Last Saturday local time, a fire broke out at an iPhone sub-component factory owned by India's Tata Electronics in the city of Hosur, Tamil Nadu state, causing at least 10 people to receive treatment, with 2 hospitalized. Indian officials stated on Monday that the factory would indefinitely suspend production after the fire over the weekend, and they would take action to prevent further damage from the fire. The factory was originally planned to produce complete iPhones in the coming months.
The factory produces key back panels and other components for the iPhone. In the same industrial park, another building is set to start assembling iPhones by the end of the year, but it is currently unclear if it has been affected.
Indian senior health official Shilpa Prabhakar Satish stated during a visit to the factory on Sunday that the factory "burned severely, (the inside) can't be seen at all. The building is collapsing, the roof is collapsing, and no one can go inside."
Tata Electronics, a part of the 165 billion-dollar market cap Tata Group in India, is one of Apple's main suppliers in India.
Counterpoint research company stated that during the holiday season from the end of October to early November, around 1.5 million units of iPhone 14 and iPhone 15 could be sold in India. With the occurrence of the fire, the research company believes that Apple may ultimately lose about 15% of the demand.
On Tuesday, apple's stock price fell by more than 3%, Barclays previously released a research report stating that apple may cut production of the iPhone 16.