Foxconn starts production of Apple's next-generation iPhone 15 in India: Reports

A Foxconn Technology Group plant in Sriperumbudur is preparing to deliver the newest devices only weeks after they start shipping from factories in China, as the company seeks to swiftly increase the volume of new iPhones coming from India, people familiar with the matter told Bloomberg.

Apple recently announced financial results for its fiscal 2023 third quarter ended July 1, 2023.

The company posted quarterly revenue of $81.8 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.26, up 5 percent year over year.

“We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone,” said Tim Cook, Apple’s CEO. “From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”

“Our June quarter year-over-year business performance improved from the March quarter, and our installed base of active devices reached an all-time high in every geographic segment,” said Luca Maestri, Apple’s CFO. “During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans.”