Apple Supplier, Salcomp has announced that the company is planning to double its workforce in India to nearly 25,000 employees.
The company is planning to hire manpower over the next three years. Earlier, Another Apple supplier, Foxconn, intended to increase its workforce at its iPhone factory in India by four times over two years.
“China Plus One strategy is at its peak at this moment. The whole supply chain is now kind of looking at an alternative. And India is poised to be one of the best alternatives,” said Sasikumar Gendham, Managing Director, Salcomp Manufacturing India.
“It’s time to really diversify and decluster supply chain beyond China”, Sasikumar Gendham added.
As per reports, A senior executive at the company stated that their goal is to achieve annual revenue in India of at least $2 billion to $3 billion by 2025. Salcomp develops and manufactures the following:-
- Power supplies for mobile and other electronic devices, being a market leader in smartphone chargers.
- IoT sensors based on Wirepas Mesh wireless connectivity technology, which enables scalable, reliable, and cost-efficient IoT solutions.
- Precision structural parts and modules, 5G RF parts, magnetic materials.
The cumulative production volume of 4 billion chargers makes Salcomp a pioneer in its industry. The current annual capacity of our production plants is approximately 520 million pieces. Salcomp’s headquarters are in Salo (Finland).
Salcomp’s production plants are in Shenzhen and Guigang (China), Manaus (Brazil), and in Chennai and Noida (India). In addition to these locations, the company has offices in the USA, Brazil, Taiwan, South Korea, and Hong Kong. During the fiscal year 2019, Salcomp’s revenue was 601 million and the company has approximately 12,000 employees.
JP Morgan analysts estimated last year that Apple may make one of four iPhones in India by 2025. Additionally, 25% of all Apple products, including Mac, iPad, Apple Watch, and AirPods, will be manufactured outside China by 2025 from 5% currently.