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Report: Apple's India iPhone Output Hits $14 Bln

FILE PHOTO: Employee buses enter the Pegatron facility near Chennai, India, March 7, 2023. REUTERS/Praveen Paramasivam/File Photo
FILE PHOTO: Employee buses enter the Pegatron facility near Chennai, India, March 7, 2023. REUTERS/Praveen Paramasivam/File Photo
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Report: Apple's India iPhone Output Hits $14 Bln

FILE PHOTO: Employee buses enter the Pegatron facility near Chennai, India, March 7, 2023. REUTERS/Praveen Paramasivam/File Photo
FILE PHOTO: Employee buses enter the Pegatron facility near Chennai, India, March 7, 2023. REUTERS/Praveen Paramasivam/File Photo

Apple Inc has assembled $14 billion worth of iPhones in India in fiscal 2024, Bloomberg News reported on Wednesday.
Apple now makes as much as 14% or about 1 in 7 of its marquee devices from India, the report said, citing people familiar with the matter.
Foxconn assembled nearly 67% while Pegatron Corp made about 17% of the India-made iPhones, the Bloomberg report added. Wistron Corp's plant in the southern Indian state of Karnataka, which the Tata Group took over last year, made the remaining.
Apple did not immediately respond to a Reuters request for comment.
Apple is increasingly looking to diversify its supply chain beyond China amid geopolitical tensions between Beijing and Washington, even as China remains the largest iPhone-making hub in the world.
Reuters reported on Monday that Pegatron is in advanced talks to hand over control of its only iPhone manufacturing facility, located near Chennai in the southern state of Tamil Nadu, to the Tata Group.
The Indian consumer goods conglomerate is also building another plant in Hosur in Tamil Nadu, with Pegatron likely to emerge as its joint venture partner.

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Oracle to Invest $6.5 Bn in Malaysian Cloud Services Region

(FILES) US multinational computer technology company Oracle's logo is pictured at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2024. (Photo by PAU BARRENA / AFP)
(FILES) US multinational computer technology company Oracle's logo is pictured at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2024. (Photo by PAU BARRENA / AFP)
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Oracle to Invest $6.5 Bn in Malaysian Cloud Services Region

(FILES) US multinational computer technology company Oracle's logo is pictured at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2024. (Photo by PAU BARRENA / AFP)
(FILES) US multinational computer technology company Oracle's logo is pictured at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2024. (Photo by PAU BARRENA / AFP)

Tech giant Oracle on Wednesday said it plans to invest more than $6.5 billion on cloud services data centers in Malaysia, joining a list of US titans rushing to build up their AI infrastructure in Southeast Asia.

The firm said the cloud region would help organizations in the country modernize their applications, migrate their workload to the cloud and innovate with data, analytics and artificial intelligence.

Oracle is working to expand its cloud infrastructure business globally. The company recently projected it will surpass $100 billion in revenue in fiscal 2029, driven by increasing demand for cloud services.

Malaysia's new cloud region will be the firm's third in Southeast Asia, following two facilities in neighboring Singapore.

"Malaysia offers unique growth opportunities for organizations looking to accelerate their expansion with the latest digital technologies," Garrett Ilg, Oracle's executive vice president for Japan and Asia Pacific, said in a statement.

"Our multi-billion-dollar investment affirms our commitment to Malaysia as a regional gateway for cloud infrastructure as well as a comprehensive suite of software as a service applications deployed within Malaysia."

The statement also quoted Malaysia's Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz as welcoming the investment, saying it would help firms with innovative and cutting-edge AI and cloud technologies to boost their global competitiveness.

"Oracle's decision to establish a public cloud region in Malaysia underscores Malaysia's infrastructure readiness, and its growing position as a premier Southeast Asian destination for digital investments," he added.

Oracle is the latest global tech giant to announce major digital investments in Southeast Asia. Google-parent Alphabet said in May it would invest $2 billion to house the firm's first data center in Malaysia.

Google on Monday said it plans to invest $1 billion to build digital infrastructure in Thailand, including a new data center.

Amazon and Microsoft have also announced investments worth billions of dollars in the region as demand for AI hots up.

Malaysian Prime Minister Anwar Ibrahim on Tuesday announced that the country plans to develop a National Cloud Policy.